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Intermediates Prices Fall in Early July
11:53 AM MDT | July 6, 2012 | Lindsey Bewley
A gap had developed in isomer markets with ortho-xylene (o-xylene) July settlements done in both the U.S. and Europe but para- only just being agreed for June. This is not unheard of, say traders, with the common lag in U.S. pX negotiations exacerbated by the national holidays in North America. June pX on the Gulf Coast was agreed for June at a decrease of 9 cts/lb. That caused spot prices to tumble $200/m.t. on both sides of the Atlantic, players report. At the same time, July settlements were done for oX in the U.S. with a decline of 5 cts/lb and in Europe...
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