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Paraxylene price gains on rising crude

YarnsandFibers News Bureau 2016-12-07 10:39:29 –

Asian paraxylene prices gained US$7.50 a ton CFR Taiwan/China and FOB Korea in the fourth week of November. Isomer mixed xylene fell US$0.50 a ton FOB Korea on the week. S-Oil nominated December contract was down US$20 a ton than November.

Paraxylene markets in Asia were largely aided by mid-week rise in crude and mixed nominations for Asian contract price. Isomer-grade mixed xylenes was assessed down on the week. S-Oil nominated lower than its November while Idemitsu Kosan and JX Nippon Oil & Energy nominations were flat to November numbers.

In Europe, xylene prices rose in line with gasoline and higher premiums. Paraxylene prices continued along their upward trajectory as Brent crude futures maintained their climb. European paraxylene spot regained US$6.50 a ton on the week.

In US, spot paraxylene edged lower and was at Asia netback. Production economics showed improvement and spot mixed xylene pricing for November rose. US spot paraxylene fell US$10 a ton while mixed xylene pricing for November rose US cents 10 per gallon.

Courtesy: Weekly PriceWatch Report

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