HOUSTON (ICIS)--US February orthoxylene (OX) contracts increased 3 cents/lb ($66/tonne) from January, sources confirmed on Monday, amid higher US spot mixed xylenes (MX) prices pressured up by tightening supply during refinery maintenance season.
February contracts increased to 38 cents/lb FOB (free on board). The settlement marks the first increase in contract prices since November.
Current-month OX contract typically settle in the first or second week of the month and are most subject to fluctuations in MX prices.
OX is used to make phthalic anhydride (PA), which is used as an intermediate in plasticizers. Major US OX producers are ExxonMobil and Flint Hills Resources.