Intermediates Prices Tumble

Continuing the calm pace of trading from earlier in May, intermediates staged a slow retreat early in June, led by an early settlement in the European ortho-xylene price, which declined by €20/m.t. Spot oX skidded 5 cts/lb in North America and $90/m.t. in Europe, traders say.   Market watchers expect the trend to continue with a 3-4 cts/lb decrease in the U.S. para-xylene June settlement when it comes. There is no such consensus for European ethylene glycol, with sellers saying they are after at least an increase of €20-30/m.t. but buyers holding...

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