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Intermediates Prices on the Decline
9:59 AM MDT | June 21, 2012 | Lindsey Bewley
Most June contracts were settled by the summer solstice with the usual laggard, U.S. para-xylene, trailing the field. U.S. ortho-xylene was agreed lower by the anticipated 4 cts/lb, bringing it into line with prevailing spot and European contract levels. European pX was agreed at a decrease of €120/m.t.. Market watchers say that if U.S. pX were to see a comparable decrease, it could be settled lower by 10 cts/lb. Spot para- declined $100/m.t. in the U.S. and $115/m.t. in Europe. Ethylene glycol was done down by €54/m.t. in Europe and 6 cts/lb in the...
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