Intermediates Contracts Settle for June

Coming late to the party as has become the norm lately, the June contract price for para-xylene was agreed at the end of the month with a decline of 6 cts/lb. That settlement had a normalizing effect on spot markets, with U.S. business declining an average of $90/m.t. in a narrowing trading range while European transactions saw an average decline of $40/m.t, also in a tightening range. To reverse the market sentiment, ortho-xylene sellers put on the table a 5 cts/lb increase for July. The always contentious acrylonitrile contract was settled lower by...

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