16 July 2013 21:15 [Source: ICIS news]
HOUSTON (ICIS)--US toluene and xylene truck and rail prices in the Gulf Coast are on an upward trend this week, as distributors have increased prices on the back of rebounding barge spot prices, according to trade sources on Tuesday.
Two distributors increased prices by 3 cents/lb ($66/tonne, €51/tonne) on toluene and 1 cent/lb on xylene in the Gulf Coast, effective 15 July.
The increase takes toluene prices up to 56 cents/lb FOB (free on board) and 58 cents/lb DEL (delivered), while xylene prices are up at 57 cents/lb FOB and 59 cents/lb DEL.
A producer was also said to have raised its toluene price by 3 cents/lb and its xylene price by 1.50 cents/lb, effective on 22 July.
The barge spot prices for nitration-grade (n-grade) toluene and mixed xylene (MX) firmed last week from its yearly lows in late June alongside stronger energy futures and some short cover positions, according to trade participants.
The jump was also in line with higher spot prices in the benzene market, which has also followed NYMEX energy futures higher during the week.
Price direction for toluene and xylene during the US summer driving season has mostly followed energy futures.
($1 = €0.77)
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