Paraxylene price dives in Asia amid weak crude oil prices

YarnsandFibers News Bureau 2016-01-13 09:16:53 –

Asian paraxylene markers were down US$2.25 a ton FOB Korea and CFR Taiwan/China in the last week of December 2015.

Paraxylene prices in Asian markets declined on the week on softer crude oil prices and weak downstream demand.

Meanwhile, Aromatics Malaysia plans to shut its aromatics plant at Kertih, Terengganu, from end-March to early May for about 45 days of maintenance.

Supply was expected to increase as Ningbo Zhongjin Petrochemical restarted its 1.6 million ton a year paraxylene plant.

In Europe, paraxylene market tracked falling Asian numbers as spot prices declined on the week.

Paraxylene prices fell US$2 a ton in the last week of December after rising US$8 in the third week.

In US, spot paraxylene was assessed at US$690 a ton FOB USG while spot mixed xylene was assessed at US cents 206 per gallon (US$624.18 a ton) FOB USG for December and January.

Courtesy: Weekly PriceWatch Report

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