Asian paraxylene prices gained US$14 a ton FOB Korea and CFR Taiwan/China in the third week of August. Paraxylene prices rose throughout the week in Asian market only resting on Thursday as crude rebounded sharply opening the week and rallied on Thursday. The paraxylene-naphtha spread also narrowed down rapidly during the week.

In US, paraxylene spot pricing gained tracking Asian numbers while expectations for cheaper contract price persisted as no major changes in fundamentals emerged. Mixed xylene prices largely followed the strengthening in outright levels. Spot paraxylene gained US$10 a ton FOB USG during the week.

In Europe, paraxylene was dearer on the week although mixed xylene prices edged down, as buy interest subsided. Paraxylene prices rose US$15.50 a ton. Mixed xylene prices were down US$19.50 a ton on the week.

Courtesy: Weekly PriceWatch Report