Paraxylene price declines amid falling crude

YarnsandFibers News Bureau 2016-11-16 11:32:18 –

Asian paraxylene prices declined US$15.34 a ton CFR Taiwan/China and FOB Korea in the first week of November. Isomer mixed xylene offers fell US$25 a ton FOB Korea on the week.

Paraxylene prices declined a bit sharply in Asian markets tracking lower crude and falling January PTA futures in China. The November contract price settled almost flat over October.

In US, paraxylene spot prices headed lower as Asia applied downward pressure. However, expectations were building up for higher contract price. Spot mixed xylene and orthoxylene pricing for November also dipped amid oversupply concerns. US spot paraxylene fell US$15 a ton FOB USG on the week. Mixed xylene pricing for November dipped US cents 17 per gallon on the week. Orthoxylene prices were down US cents 2 per pound FOB USG.

In Europe, paraxylene and mixed xylene spot prices fell tracking Asian numbers and EBOB complex turning bearish. Paraxylene prices retreated US$14.50 a ton.

Courtesy: Weekly PriceWatch Report

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