US June MX contract down 2 cents/gal

13 June 2013 22:12  [Source: ICIS news]

HOUSTON (ICIS)--The June mixed xylene (MX) contract on Thursday was confirmed to have settled at $3.92/gal, a decline of 2 cents/gal from the previous month, following weaker demand and lower energy futures seen in late May.

Trade sources had also said in late May that other octane markets more readily available at lower prices appeared more favorable than the toluene or MX market.

Sources said the June MX contract settled last week.

The contract had previously gained 11 cents/gal for May on strong buying interest.

Activity has been mostly slow heading into the US summer driving season, but market participants still expect xylene to follow direction from the gasoline sector in the midst of weak demand.

By: Brian Balboa
+1 713 525 2653

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