11 July 2013 23:00 [Source: ICIS news]
HOUSTON (ICIS)--US toluene and xylene spot prices have rebounded this week from yearly lows seen in late June on the back of stronger energy futures and some short cover positions, according to trade participants on Thursday.
The jump in toluene and xylene spot prices was also in line with stronger benzene spot levels this week, which also have firmed on the back of stronger energy futures and a tight downstream styrene market.
Demand has been thin during the US summer driving season, with toluene and xylene spot prices mostly held to direction from NYMEX energy futures.
Current July nitration-grade (n-grade) toluene spot prices were discussed on Thursday at $3.75-3.95/gal (€2.93-3.08/gal) FOB (free on board), up from yearly lows of $3.45-3.60/gal FOB on 27 June.
Meanwhile, current mixed xylene (MX) spot prices were at $3.85-4.05/gal FOB, up from yearly lows of $3.75-3.90/gal FOB, also on 27 June.
($1 = €0.78)
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