Houston (Platts)--8Feb2013/431 pm EST/2131 GMT
The February US mixed xylene contract price settled 20 cents ($60.60/mt) lower than January's mark at $4.46/gal ($1,351.38/mt) Friday, sources said. Sources expected the contract price to settle lower after a decline in spot MX prices. However, the 20-cent decline was a shock to some sources, who said they had not expected a decrease of such magnitude. Spot MX started to decline in early January. After reaching $4.75/gal FOB US Gulf Coast on January, prices fell to around $4.50/gal on January 24, since when support has emerged. Article continues below... Sign up for Polymerscan Each week Polymerscan works diligently to provide useful and current coverage of the continuously changing, global plastic resin marketplace. With Polymerscan you will receive more than 200 price assessments that cover the regional and domestic markets in Asia, Europe, the Middle East, the United State and Latin America. Products on our radar screen include LDPE, LLDPE, HDPE, PP, PVC, PS and ABS.
The February US mixed xylene contract price settled 20 cents ($60.60/mt) lower than January's mark at $4.46/gal ($1,351.38/mt) Friday, sources said. Sources expected the contract price to settle lower after a decline in spot MX prices. However, the 20-cent decline was a shock to some sources, who said they had not expected a decrease of such magnitude. Spot MX started to decline in early January. After reaching $4.75/gal FOB US Gulf Coast on January, prices fell to around $4.50/gal on January 24, since when support has emerged.
Article continues below...
Each week Polymerscan works diligently to provide useful and current coverage of the continuously changing, global plastic resin marketplace. With Polymerscan you will receive more than 200 price assessments that cover the regional and domestic markets in Asia, Europe, the Middle East, the United State and Latin America. Products on our radar screen include LDPE, LLDPE, HDPE, PP, PVC, PS and ABS.
US spot MX was assessed at $4.58/gal FOB US Gulf Coast Thursday. The previous US MX contract price settled at a record high of $4.66/gal in January. Spot MX demand has been described as steady in recent weeks on purchases for octane boosting and paraxylene production, sources said.--John Calton, john_calton@platts.com --Edited by Keiron Greenhalgh, keiron_greenhalgh@platts.com
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