US April MX contract expected to drop with other aromatics

01 April 2013 22:38  [Source: ICIS news]

HOUSTON (ICIS)--The US April mixed xylene (MX) contract is expected to settle lower this week, following the drop in other aromatics in March, according to trade sources on Monday.

The MX contract typically settles during the first week of the month, after the US benzene contract.

The US April benzene contract dropped 33 cents/gal to settle at $4.36/gal last week, following weak demand, improved supply and weaker benzene prices overseas, according to trade sources.

MX supply in the US is also readily available, market participants have said.

Current MX spot prices are at $3.80-3.90/gal FOB, according to ICIS. The range was down from $4.45/gal FOB back on 1 March.

The US March mixed xylenes (MX) contract was settled at a 6 cent/gal decline to $4.40/gal.

($1 = €0.78)

By: Brian Balboa
+1 713 525 2653

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