Aromatics Moving Higher in U.S. and Europe

Aromatics have been active, with the notable exception of spot benzene on the U.S. Gulf, which fluctuated but remained range-bound. As in recent weeks, toluene and mixed xylenes saw active trading, with toluene reported higher by an average of 35 cts/gal while mixed xylenes rose half a dollar. Sources say that a new formula is being tried for the mixed xylenes contract, using an average of the month’s spot prices. One calculation moved the settlement higher by just 3 cts/lb, but there was not widespread agreement on the method or result. European spot...

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