The October US mixed xylene contract price settled at $4/gal ($1,212/mt), a decline of 25 cents ($75.75/mt) from the mark for September, industry sources said Thursday.
Market participants had expected a lower settlement, but expectations were not heard at this low of a level. Sources anticipated a drop in the contract price because of lower spot pricing during September.
The decline in spot pricing came amid aggressive selling with limited buyers and liquidity, sources said.
Mixed xylene spot prices averaged $4.198/gal on an FOB US Gulf Coast basis during the month of September.
The US mixed xylene spot price was last assessed Wednesday at $4.11/gal.
The “real market” for mixed xylene is somewhere around $4.15/gal on an FOB US Gulf Coast basis at the moment, sources said.
The September mixed xylene contract price settled 33 cents higher month on month at $4.25/gal, sources said.
Source: platts.com
