US November paraxylene CP settles down 6 cents/lb at 74 cents/lb

Chemical News: US November paraxylene CP settles down 6 cents/lb at 74 cents/lb

https://www.chemnet.com Nov 03,2011 Platts
The US paraxylene contract settled down 6 cents/lb ($132/mt) to 74 cents/lb ($1,630.96/mt) for November, a PET maker said Wednesday.

Producers had yet to confirm the contract.

The decrease in the US came on the heels of lower contracts in Asia and Europe. Asia's PX CP settled at $1,500/mt CFR, down $120/mt from the partial settlement in October and $155/mt from the last market-wide settlement in September.

In Europe, there was a settlement heard at Eur1,120/mt ($1,533/mt), down Eur90/mt ($123/mt) from October.

The decrease in US PX would also pull down the formula derived PTA contract by about 4.02 cents/lb ($89/mt) to roughly 64-65 cents/lb ($1,410.56-1,432.60/mt) delivered.

In the US spot market, PX was heard offered Wednesday at $1,410/mt FOB USG (64 cents/lb) for November. There were no bids.

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