15 February 2013 23:24 [Source: ICIS news]
NEW YORK (ICIS)--The contract price for US paraxylene (PX) was settled up at 83.50 cents/lb ($1,841/tonne, €1,381/tonne) DEL (delivered) for February, a 3 cent/lb increase from January values, based on an increase in the PX Asian Contract Price (ACP), sources said on Friday.
The US PX contract follows the PX ACP, which settled higher in February by $60/tonne to $1,685/tonne CFR (cost & freight) Asia, compared to $1,625/tonne CFR Asia in January.
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, ExxonMobil Chemical, ChevronPhillips Chemical and Flint Hills Resources.
($1 = €0.75)
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