Asian paraxylene prices rose US$5.50 a ton FOB Korea and CFR Taiwan/China in the first week of March. Isomer grade mixed xylene FOB Korea marker jumped US$26 a ton FOB Korea on the week.

Paraxylene prices surged in Asian markets on firmer upstream and downstream segment as Yisheng will restart No.3 Ningbo PTA plant soon. Isomer mixed xylene prices were flat amid thin trading sentiment although inventory fell in China.

In US, paraxylene spot is expected to remain higher into April as it followed Asia trend that week. Gasoline blending will tighten supply. Firming upstream continued to push spot up while March contracts remained unsettled.

US spot jumped US$30 a ton FOB USG during the week while spot orthoxylene was up US cent 0.25 per pound FOB USG on the week.

In Europe, an initial paraxylene contract was settled up on the month while spot was up on the week. Mixed xylene market finished the week in a lull with no outright bids or offers reported.

Spot paraxylene prices in Europe were up US$18 a ton FOB Rotterdam while an initial contract price settlement was up Euro10 a ton on the month.

Courtesy: Weekly PriceWatch Report