The US September mixed xylene contract was heard settled Thursday at 415 cents/gal ($1,257.45/mt), down 8 cents/gal, or 1.9%, from the August mixed xylene contract of 423 cents/gallon ($1,281.69/mt).
Market sources said they heard the involved parties were Citgo and BP. A trader added that Conoco-Phillips could also be involved. Confirmation was not available by the time of publication.
The drop in the contract price tracked recent spot trades. Spot mixed xylene was last heard traded Wednesday after the market-on-close assessment window at 418 cents/gal FOB USG for September.
September bids and offers Thursday for the spot market ranged from 425-433 cents/gal FOB USG by 11:00 AM CDT.
Sources expected mixed xylene to be tight in September due to multiple turnarounds.
ExxonMobil is currently undergoing a turnaround at its Baytown, Texas, facility -- with a mixed xylene capacity of 17,900 barrels/day -- that started August 1 and was expected to last for six weeks.
Shell started a turnaround at its Deer Park, Texas facility -- with a mixed xylene capacity of 4,900 barrels/day -- September 1 for three weeks.
Total's reformer in Port Arthur, Texas -- with a mixed xylene capacity of 7,672 barrels/day -- was heard to be restarted September 1 after being down last week, but efforts to contact Total to confirm were not returned by the time of publication.
