Asian paraxylene prices rose US$17.50 a ton both FOB Korea and CFR Taiwan/China in the fourth week of September.

Nominations for October Asian contract prices have begun ranging from flat to up. October Asian contract prices were heard nominated in the range of US$800-$850 a ton, up from September numbers.

In US, paraxylene spot market followed Asian rising trend and on tight feedstock supply. Spot mixed xylene rose on the week due to limited supply amid reformate arbitrage and turnarounds. Spot was slightly higher than blended value.

Spot paraxylene in US rose US$15 a ton FOB USG, citing Asia as the reason for the rise. Mixed xylene also rose US cents 8 per gallon FOB USG for September.

In Europe, spot prices of mixed xylenes were stable initially and up on the week. Buy interest for reformate was triggered by maintenance works at Asian refineries. Meanwhile, paraxylene prices rolled over amid thin demand.

Courtesy: Weekly PriceWatch Report