Paraxylene price dips on weak crude

YarnsandFibers News Bureau 2015-12-23 07:19:47 –

Asian paraxylene markers fell US$15 a ton FOB Korea and CFR Taiwan/China in the second week of December.

Paraxylene prices dipped back to below November end levels as crude oil markets sank.

Ningbo Zhongjin’s outage however supported prices mid-week. In China, January PTA futures dipped again on the week. Ningbo Zhongjin Petrochemical should be able to restart its refomer may in a week.

In US, paraxylene spot followed Asia lower while activity remained slow in domestic market as production margins declined.

Spot paraxylene fell US$10 a ton FOB USG on the week.

In Europe, mixed xylene prices jumped on day and on week with December premiums climbing on firm bids. Paraxylene also climbed in line with feedstock and gasoline.

Mixed xylene was up US$11.50 on the week with 5-30 day forward market was assessed at US$570.50 a ton FOB ARA. December premiums climbed to US$142 a ton.

Paraxylene prices climbed US$6 on Friday to US$685 a ton, but down US$4 on the week.

Courtesy: Weekly PriceWatch Report

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