Corrected: US OX settles 6 cents/lb higher to 71.50 cents/lb for January

19 January 2013 00:29  [Source: ICIS news]

Correction: In the ICIS story headlined "US OX settles 6 cents/lb higher to 80.50 cents/lb for January" dated 19 January, please read the headline as "… 71.50 cents/lb…" instead of "…80.50 cents/lb…".
Please read the first paragraph as … settled at 71.50 cents/lb ($1,576/tonne, €1,182/tonne)… instead of … settled at 80.50 cents/lb ($1,775/tonne, €1,331/tonne)….
A corrected story follows.

NEW YORK (ICIS)--The January contract price for US orthoxylene (OX) settled at 71.50 cents/lb ($1,576/tonne, €1,182/tonne) FOB (free on board), up 6 cents/lb from the December contract price, sources confirmed on Friday.

Early thoughts were for either a rollover or slight increase, sources said.

US spot OX prices were notionally steady at 69-71 cents/lb FOB export on the back of stable-to-soft spot OX prices in Asia.

In the related MX market, the price range tightened. Prices moved up early in the week, but came back down late in the week. Demand has been poor, sources said.

The OX pricing trend is tied in with the MX market, as well as movement in toluene and benzene.

OX is primarily used to make phthalic anhydride (PA), a key intermediate in the production of plasticizers, which are used to make products such as flexible polyvinyl chloride (PVC).

Major US OX producers include ExxonMobil Chemical and Flint Hills Resources.

($1 = €0.75)

By: Feliza Mirasol
+1 713 525 2653

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