Asian paraxylene prices dived US$50 a ton CFR Taiwan/China and FOB Korea in the second week of March. Isomer-grade mixed xylene declined US$43 a ton FOB Korea on the week.
Paraxylene prices were driven down in Asian markets amid continuing free-fall in sentiment affected by heavy pressure from bearish futures markets. Upstream isomer-grade mixed xylene also fell week on week in line with lower upstream and downstream markets. Falling crude oil prices further added to the pessimistic market sentiment.
In US, spot paraxylene declined on lower global pricing. Meanwhile, mixed xylene prices remained soft on market length while buy interest was below blend value. US spot paraxylene prices fell US$40 a ton FOB USG on the week.
In Europe, paraxylene initial contract price had a second settlement for March while prices crashed US$50.50 a ton FOB in the spot market.
Courtesy: Weekly PriceWatch Report
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