16 May 2013 22:30 [Source: ICIS news]
NEW YORK (ICIS)--The US orthoxylene (OX) contract price rose by 2 cents/lb ($44/tonne, €34/tonne) for May on the back of a stronger US mixed xylenes (MX) contract settlement, sources said on Thursday.
The US OX contract went from 62.5 cents/lb FOB (free on board) in April to 64.5 cents/lb FOB in May.
OX comes out of the refining process with MX and is affected by its price movement, as well as the movement of toluene and benzene that also come out of the gasoline stream.
The US May MX contract was settled at an 11-cent/gal gain from last month on the back of a recent increase in buying interest. This represented the first increase in the MX contract since January.
The MX increase was supported by higher xylene prices in the Asian market.
($1 = €0.78)
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