The January US mixed xylene contract price settled 36 cents ($109.08/mt) above December's mark at a record high of $4.66/gal ($1,411.98/mt), sources said Tuesday.
Sources expected the CP to settle at a record high due to higher spot MX prices, which have been well above $4.70/gal for most of December.
The previous record high US MX contract price, set in March 2012, settled at $4.34/gal, according to Platts data.
The higher CP settlement was due to market fundamentals including limited supplies, sources said.
The December US MX CP settled at $4.30/gal, up 35 cents compared with November.
US spot MX was assessed at $4.75/gal FOB US Gulf Coast Monday.
Source:
http://news.chemnet.com/Chemical-News/detail-1790092.html
