Asian paraxylene prices slightly edged down US$0.67 a ton CFR Taiwan/China and FOB Korea in the third week of April. Isomer-grade mixed xylene declined by a sharp US$24 a ton FOB Korea on the week.
Paraxylene prices in Asian market slid slightly on the week but remained unchanged on weekend while isomer mixed xylene dropped a bit sharper. In China, gasoline blending demand was heard supporting prices in May, on top of maintenance shutdowns in Northeast Asia. Orthoxylene spot declined as demand faded amid ample supply. India's Reliance Inds. will ship its first term paraxylene export to China from the second phase of its new plant at Jamnagar at end April.
In US, paraxylene spot declined on the week despite a stagnant market while spot mixed xylene prices also fell. Spot paraxylene fell US$10 a ton FOB USG while spot mixed xylene prices fell US cents 2 a gallon on an FOB basis.
In Europe, spot paraxylene inched down as June Brent crude dropped while spot trading remained mute. Paraxylene spot was down US$2 a ton while mixed xylene spot dropped US$6 a ton CIF ARA.
Courtesy: Weekly PriceWatch Report
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