17 January 2013 21:46 [Source: ICIS news]
NEW YORK (ICIS)--The contract price for US paraxylene (PX) settled up at 80.5 cents/lb ($1,775/tonne, €1,331/tonne) DEL (delivered) for January, sources said on Thursday.
The US PX contract follows the PX ACP, which settled in January at $1,625/tonne CFR (cost & freight) Asia, an increase of $75/tonne from $1,550/tonne CFR Asia in December.
PX is primarily used to make purified terephthalic acid (PTA), an intermediate chemical used in the production of PET. A major outlet for PET is in the production of plastic bottles for beverages.
Major US PX producers include BP Chemicals, ExxonMobil Chemical, Chevron Phillips Chemical and Flint Hills Resources.
($1 = €0.75)
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