Paraxylene price falls on weak market sentiment

YarnsandFibers News Bureau 2017-04-05 10:08:11 –

Asian paraxylene prices fell US$29.33 a ton CFR Taiwan/China and FOB Korea in the fourth week of March. Isomer-grade mixed xylene was cheaper by US$9.50 a ton FOB Korea on the week.

Paraxylene prices fell back again that week after some recovery last week as sentiment continued to weaken across regions. Orthoxylene inventories at China's ports was piling while a S Korean producer halted spot offering as demand waned throughout Asia amid ample supply.

In US, paraxylene prices were also down on the week under pressure from falling feedstock. Mixed xylene prices fell sharply week on week amid market length and limited export opportunities. US spot paraxylene prices were down US$35 a ton FOB USG on the week.

In Europe, both mixed xylene and paraxylene prices edged lower in persistent buyer-seller standoff, but buy interest remained weak. Spot paraxylene was down US$29 a ton on the week, while mixed xylene prices fell US$6 a ton.

Courtesy: Weekly PriceWatch Report

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