US mixed xylene prices were 7 cents/gal higher Tuesday, hitting a record-tying $4.40/gal FOB USG on tight supplies and two deals, sources said.
The last time US MX was assessed at $4.40/gal FOB USG was April 29, 2011. A deal for MX was done Monday after the market-on-close window at $4.39/gal FOB USG for March, and another deal was heard done at $4.40/gal FOB USG for March on Tuesday.
Sources said supply for MX has been snug, with supply expected to remain tight.
Shell's Deer Park, Texas, facility, which produces 4,900 b/d of MX, has been offline since December because of a force majeure, but sources said the facility should be back online in early March.
Sources said the price for MX has seemed a bit high, with one source predicting the price might fall in the next week. However, other sources said the price could continue to rise if supplies remain tight.
The US MX price has steadily risen since the beginning of the year, climbing 47 cents after it was assessed at $3.93/gal FOB USG on January 3. The price had hovered around $4.30/gal FOB USG since the middle of February.
