March contracts for US orthoxylene rolled over for March, settling at 58.5 cents/lb ($1,290/mt), market sources said Thursday.
Contracts were settled Wednesday, they said.
Sources said sellers went into negotiations seeking a slight increase, but with feedstock mixed xylene prices and global demand talked lower in recent weeks, the sides agreed to keep the contracts at the February level.
March MX contracts have not yet settled for the month. Spot MX was assessed Wednesday at 363 cents/gal FOB USG.
The US OX contract price was flat from November to December before falling by 1.5 cents/lb during February negotiations.
With the March OX contract in place, downstream sources said US phthalic anhydride prices are also set to remain flat into April. US PA contracts follow the change in feedstock OX contracts with a one-month lag.
March US PA prices were assessed at 72.5-73.5 cents/lb delivered for flake and 75.25-75.75 cents/lb delivered for molten.
