US May MX contract gains 11 cents/gal on stronger buying interest

06 May 2013 17:47  [Source: ICIS news]

US May MX contract gains 11 cents/gal on stronger buying interestHOUSTON (ICIS)--The US May mixed xylene (MX) contract on Monday was confirmed to have settled at $3.94/gal (€2.99/gal), a gain of 11 cents/gal from the previous month, following the recent increase in buying interest.

The May MX contract had been in the final stages of being confirmed late Friday and represented the first increase for the MX contract since January.

The stronger buying interest, which picked up in late April, was in line with seasonal market expectations as blenders prepare for the start of the US summer driving season, which runs from the Memorial Day holiday in May through the Labor Day holiday in September.

The increase was also supported by higher xylene prices in the Asian market.

($1 = €0.76)

By: Brian Balboa
+1 713 525 2653

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