June contracts for US orthoxylene were heard settled Thursday at 63 cents/lb, a 1.5 cent decrease from May, multiple industry sources said.
May OX contracts were assessed at 64.5 cents/lb.
US OX contract settlements typically follow the same direction as changes to the contract for feedstock mixed xylene, but the June US MX contract had not settled Thursday afternoon.
Spot MX was assessed Wednesday at $4.03/gal FOB USG, up 7 cents/gal week on week, but lower than the level of spot prices during most of May. The US MX May contract settled at $3.94/gal ($1,193.82/mt)
With news of the OX settlement, July contracts for downstream phthalic anhydride are expected to drop 1.5 cents/lb, according to sources. PA contracts follow changes to the feedstock OX contract with a one-month lag.
US molten PA prices were assessed Thursday for June at 81.25-81.75 cents/lb delivered for large volume buyers, while flake prices were assessed at 78.50-79.50 cents/lb delivered.
