Asian paraxylene prices were up US$32.33 a ton CFR Taiwan/China in the first week of April. Isomer-grade mixed xylene was dearer by US$18.50 a ton FOB Korea on the week.
Paraxylene prices were up on the week on firmer upstream but the dip at weekend capped the weekly rise. Isomer-grade mixed xylenes prices also rose while orthoxylene spot tumbled due to poor downstream demand amid thin trading indications.
In US, paraxylene spot continued to rise on support of firmer feedstock mixed xylene values and higher European pricing. Imports in March imports were double that of February, implying tight domestic supply. spot paraxylene gained US$30 a ton FOB USG on the week.
In Europe, paraxylene spot was up while xylenes market fundamentals were mixed despite volatile crude values. Meanwhile the premium over April EBOB swap hit a two-year low bringing fundamentals under substantial pressure ending the week on a mixed note. Spot paraxylene was up US$29 a ton while mixed xylene spot rose US$8.50 a ton CIF ARA on the week.
Courtesy: Weekly PriceWatch Report
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