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Paraxylene price declines on weak demand

YarnsandFibers News Bureau 2016-09-07 03:42:11 –

Asian paraxylene prices lost US$12 a ton FOB Korea and CFR Taiwan/China in the last week of August. Paraxylene market rolled back previous week’s gain as prices declined due to weak demand emanating from PTA plants shut down in China ahead of G20 summit. Meanwhile, mixed xylene spot edged up on upstream firmness while September-October flipped into backwardation.

In Europe, paraxylene market was mixed with prices declining opening the week only to partially regain before weekend. Paraxylene prices gave back US$5.50 a ton on the week.

US paraxylene spot liquidity remained thin and pricing moved lower following Asia. Indication for August contract price was lower. Spot mixed xylene pricing for August and September was higher week on week. US spot paraxylene fell US$10 a ton FOB USG on the week. Indications of August contract price settling US cents 2 lower. Spot mixed xylene pricing for August and September was US cents 9 higher week on week.

Courtesy: Weekly PriceWatch Report

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