09 August 2013 21:04 [Source: ICIS news]
The increase brought the contract to 64 cents/lb ($1,411/tonne, €1,058/tonne) FOB (free on board).
US OX was driven in part by a higher August contract price settlement for US mixed xylenes (MX), but a stronger driving force were higher prices in Asia in the last few weeks, which presented lucrative market for US exports, the source said.
The August increase reverses the 2 cent/lb decline in the July OX contract price from June levels.
The US OX spot price range notionally narrowed to 65-66 cents/lb from 65-67 cents/lb last week on the back of subdued Asian OX spot prices.
($1 = €0.75)
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