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Paraxylene price moves down in Asia and Europe

YarnsandFibers News Bureau 2015-12-02 04:23:57 –

Asian paraxylene markers were down US$6 a ton FOB Korea and CFR Taiwan/China in the third week of November.

Nominations for December contract prices were at US$820-830 a ton CFR Asia.

Paraxylene prices in Asian markets fell on the week amid heavy selling interest and weakness in upstream isomer- mixed xylene markets. Meanwhile, December Asian contract price was nominated.

US spot paraxylene was up US$5 a ton on the week. The market continued discussions in a range of US$740-$798 a ton.

In US, paraxylene spot tracked Asian movement while lack of liquidity muted spot movement.

US-Asia arbitrage was still attractive. Contracts remained unsettled despite production economics were marginally positive.

BP announced that it has put up its Decatur, Alabama, Petrochemicals complex for sale.

In Europe, paraxylene spot declined as markets move sideways.

Paraxylene spot was down US$7.50 a ton while virgin and isomer grade mixed xylenes were at US$544 a ton.

Courtesy: Weekly PriceWatch Report

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