Asian paraxylene prices fell US$28.50-29.50 a ton FOB Korea and CFR Taiwan/China in the first week of April. Paraxylene prices in Asian market dropped on declining downstream while robust rise in crude oil price on weekend did not influence the players as values dropped on the day. Isomer mixed xylene prices were flat amid thin trading activity.
In Europe, paraxylene prices dropped on the week and on Friday although bullish gasoline supported mixed xylene. Orthoxylene arbitrage to Asia was open while mixed xylenes, both virgin and solvent grade xylene rose on the day. Spot paraxylene prices declined US$29.50 a ton FOB Rotterdam during the week.
In US, spot paraxylene was swayed away by lower Asian values while liquidity remained thin. Inventories were also ample amid weak demand. Spot paraxylene fell US$15 a ton FOB USG on the week.
Courtesy: Weekly PriceWatch Report
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