Asian paraxylene prices inched up US$6 a ton CFR Taiwan/China and FOB Korea in the first week of December. Isomer mixed xylene further jumped US$25 a ton FOB Korea on the week.
Paraxylene prices rose in Asian and US markets while sobered in Europe that week. Asian paraxylene rose on firmer crude and January PTA futures. India’s Reliance showed interest in Asian contract pricing.
In Europe, paraxylene spot declined although xylene prices ended the week on a bullish note as Brent crude futures climbed above US$54 a barrel mark. Mixed xylene prices firmed up on high December bids while January remained backwardated. European paraxylene spot declined US$13 a ton on the week.
In US, paraxylene spot saw one-year high tracking Asia values. Feedstock mixed xylene's upward trend continued with energy complex firming. US spot paraxylene rose US$10 a ton FOB USG on the week. Spot mixed xylene December pricing rose US cents 3 per gallon on the week.
Courtesy: Weekly PriceWatch Report
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