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Paraxylene price hits 18-month highs in Asia

YarnsandFibers News Bureau 2017-02-08 12:09:53 –

Asian paraxylene prices rose US$24.33 a ton CFR Taiwan/China in the in the last week of January. February paraxylene contract price was settled at an increase of US$50 a ton from January.

Paraxylene prices were up in Asian markets were at 18-month highs as regional supply was constrained by production issues, while market sentiment remained bullish as February Asian contract prices settlement was up from January.

In US, paraxylene spot gained behind Asian rise while market fundamentals remained stagnant, but remained at netback to the CFR Taiwan. Spot mixed xylene February pricing fell as it trended lower with energy while supply was tight amid reformer outages. Spot paraxylene rose US$20 a ton FOB USG while mixed xylene February pricing fell US cents 4 a gallon FOB USG.

In Europe, paraxylene and orthoxylene were subdued on weakness in extraction economics while mixed xylene ended the week on a bullish note. European paraxylene spot gained US$14 a ton on the week.

Courtesy: Weekly PriceWatch Report

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