Paraxylene markets in Asia tracked declining upstream as mixed xylene prices fell in the first week of August while Hengli has decided to shut its Dalian PTA plants. In US, spot paraxylene assessments dropped week over week amid quiet demand and arrival of shipment arrivals from Asia adding to supply. The MX-PX spread was better, but still unattractive.
In Europe, paraxylene prices were down on week while MX premium over Aug gasoline fell amid steady downstream PTA market. No August contract prices were settled yet.
Asian paraxylene markers the CFR Taiwan/China and FOB Korea both fell US$30.50 a ton on the week. US spot paraxylene assessments dropped US$75 a ton week over week while paraxylene price in Europe plunged US$63.50 a ton on the week. Meanwhile, mixed xylene premium over August gasoline swap was assessed at US$111 a ton.
Courtesy: Weekly PriceWatch Report
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