Asian paraxylene prices slipped US$35.67 a ton CFR Taiwan/China and FOB Korea in the fourth week of May. Isomer-grade mixed xylene prices also declined US$16 a ton FOB Korea on the week.
Paraxylene prices in Asian markets declined in line with fall across energy and aromatics sectors. Downstream PTA markets were also unsupportive as September futures fell in China. Meanwhile, isomer-grade mixed xylenes dropped on crude oil slide. S-Oil's Onsan plant was operating normally following scheduled maintenance of around 40 days.
In US, spot paraxylene prices dipped amid pressure from Asia and declines in energy values. Spot mixed xylenes also dipped slightly week on week. US spot paraxylene lost US$25 a ton FOB USG on the week.
In Europe, paraxylene markets ended the week with sentiment unchanged but spot was down on Asian decline. Mixed xylene markets activity remained mute amid unchanged fundamentals, with markets long and product readily available. European paraxylene spot softened US$30 a ton a ton FOB Rotterdam while xylenes ended the week with sentiment unchanged.
Courtesy: Weekly PriceWatch Report
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