US April OX contract drops on softer MX, Asia prices

10 April 2014 20:53 Source:ICIS News

US OX contract settled down at 57 cents/lb FOB on soft MXHOUSTON (ICIS)--The US April orthoxylene (OX) contract price has settled down at 57 cents/lb ($1,257/tonne) free on board (FOB) due to softer mixed xylene (MX) and Asia prices, sources confirmed on Thursday.

The movement is a 1.5 cents/lb decline from the 58.5 cents/lb FOB contract price in March.

OX comes out of the refining process with MX and is typically affected by its price movement, as well as the movement of toluene and benzene that also come out of the gasoline stream.

OX contract prices have declined 5% since January.

OX is primarily used to make phthalic anhydride (PA), a key intermediate in the production of plasticizers, which are used to make products such as flexible polyvinyl chloride (PVC).

Major US OX producers include ExxonMobil and Flint Hills Resources.

OX price graph

By Feliza Mirasol