Intermediates Mixed on Both Sides of Atlantic

Despite the dog-day doldrums and mixed economic signals in both U.S. and Europe, traders managed to close out July business in fiber intermediates by the end of the month. The U.S. para-xylene contract, as usual, was the last to be settled, being agreed lower by 4 cts/lb. In contrast, spot para- rose sharply on both sides of the Atlantic: $170/m.t. in Europe and $100/m.t. in the U.S. The other July business to be wound up was acrylonitrile, which was agreed sharply lower: €180/m.t. in Europe and 10 cts/lb in North America. In agreeing to lower July levels...

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