06 May 2013 17:47 [Source: ICIS news]
HOUSTON (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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections