AFPM '13: US OX contract expected to settle lower in April

25 March 2013 18:31  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS)--The US orthoxylene (OX) contract price is expected to settle down by 3-5 cents/lb ($66-110/tonne, €51-85/tonne) in April, market sources said on Monday on the sidelines of the International Petrochemical Conference (IPC).

The price decrease would put the US OX April contract at around 64.50-66.50 cents/lb FOB (free on board) from 69.50 cents/lb FOB in March.

The March contract price reflects a 2-cent/lb drop from February.

The declining OX pricing trend is in line with the current global trend of softening prices for many feedstock chemicals.

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.

Hosted by the American Fuel & Petrochemical Manufacturers (AFPM), the IPC continues through Tuesday.

($1 = €0.77)

By: Feliza Mirasol
+1 713 525 2653

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