US MX contract expected to move down for February

07 February 2013 17:06  [Source: ICIS news]

HOUSTON (ICIS)--US aromatics trade participants on Thursday said they expect the February mixed xylene (MX) contract to settle lower, in line with the downtrend seen in other aromatics markets over the month.

The February MX contract typically settles within a week or two after the US benzene contract settles.

The January MX contract was settled at $4.66/gal (€3.45/gal), up 36 cents/gal from the December contract.

MX spot prices, which can indicate which direction contracts will settle, moved below the $4.50/gal mark in mid-January, but have since gained some ground.

Current MX spot prices are at $4.50-4.65/gal FOB (free on board), slightly under the January MX contract price.

Major xylene producers in the US include BP, Chevron Phillips Chemical, ExxonMobil, Flint Hills Resources and LyondellBasell.

($1 = €0.74)

By: Brian Balboa
+1 713 525 2653

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