US May MX contract drops 4 cents/gal on thin demand

06 May 2014 20:20 Source:ICIS News

HOUSTON (ICIS)--The US May mixed xylenes (MX) contract settled at $3.50/gal for a decline of 4 cents/gal from April, according to trade participants on Tuesday.

The decline in the April contract was in line with the recent decline in aromatics spot prices, which have seen thinning demand alongside ample supply and imports from abroad.

Activity has been thin with little movement in the spot market during April.

Current MX spot prices are at $3.48-3.54/gal FOB (free on board), which is stable to lower compared with the April MX contract price of $3.54/gal.

By Brian Balboa