NEW YORK (ICIS)--The US orthoxylene (OX) contract for June was fully settled at a rollover of 55.75 cents/lb ($1,229/tonne) from May amid higher US mixed xylenes (MX) prices, sources confirmed on Friday.
MX spot prices were firmer in the week and the June contract price for the material rose by 2 cents/lb from May.
The uptrend in MX has kept OX from falling lower. OX contracts prices fell 7.1% from January to May.
Demand for OX in the downstream phthalic anhydride (PA) market is steady, as there are no fundamental changes in the PA market in the second quarter from the first quarter, market sources said.
Major US OX producers include ExxonMobil Chemical and Flint Hills Resources.