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Intermediates Prices Settle in Europe
4:05 PM MDT | August 4, 2011 | Lindsey Bewley
European isomer xylenes contracts were settled promptly for August, traders say, with para-xylene gaining €35/m.t. and ortho- tacking on €30/m.t. Spot markets took their cues from the settlements, with pX moving higher by $80/m.t. and oX by $40/m.t. U.S. isomer markets were quiet, except for the nomination of 10.5 cts/lb increase for oX. Ethylene glycol slipped 4 cts/lb on limited spot trading in North America. Spot EG added €80/m.t. in Europe as seller sentiment solidified around the August contract price. That was only a token increase...
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