12 March 2013 19:05 [Source: ICIS news]
NEW YORK (ICIS)--US phthalic anhydride (PA) contract values for April are expected to decline by 2 cents/lb ($44/tonne, €34/tonne) on the back of weaker feedstock orthoxylene (OX) costs, sources said on Tuesday.
In March, OX was fully settled down by 2 cents/lb to 69.50 cents/lb FOB (free on board) from 71.50 cents/lb FOB in February.
Market sources said that April PA contract prices will also be settled down by the full 2 cents/lb, which would bring prices to 85.50-92.50 cents/lb FOB molten and 86.50-93.50 cents/lb DEL (delivered) flake.
March PA contract prices are at 87.50-94.50 cents/lb FOB molten and 88.50-95.50 cents/lb DEL flake, according to ICIS.
The monthly US PA contracts are settled on the delta of the previous month’s OX contract.
Demand is steady, sources said.
PA is a key intermediate in the production of plasticizers, which are used to make products such as flexible polyvinyl chloride (PVC).
Major US PA producers include BASF, Koppers and Stepan.
($1 = €0.77)
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