The US orthoxylene contract settled at a record high of 71 cents/lb ($1,565/mt) for March, up 2 cents from February, a buyer and seller said Tuesday.
The previous record high was set in February, when the contract was done at 69 cents/lb.
The increase was slightly more than a pass-through of the rise seen in the upstream mixed xylene contract, which rose 13 cents to hit 434 cents/gal in March.
Phthalic anhydride producers will in turn pass on their higher OX costs in April, when they will raise their molten PA contracts by 2 cents/lb to 88 cents/lb delivered.
