US November MX contract drops 28 cents on weak technicals

04 November 2013 21:14  [Source: ICIS news]

HOUSTON (ICIS)--The November mixed xylene (MX) contract settled at $3.72/gal, down 28 cent/gal from the October MX contract, a trade source confirmed on Monday.

The decline in the November MX contract follows weaker aromatics prices in October, which have been driven lower by declining NYMEX energy futures, thin demand, ample supply and weak blend values, according to market participants.  

The decline in aromatics spot prices in October, lead MX to a 14-month low before rebounding last week.

Current MX spot prices are at $3.75-3.90/gal FOB (free on board).

By: Brian Balboa
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