Asian paraxylene prices surged US$17.33 a ton CFR Taiwan/China and FOB Korea in the last week of November. Isomer mixed xylene jumped US$28.50 a ton FOB Korea on the week.
Paraxylene prices in Asia soared on the week post midweek surge in crude oil values. Meanwhile, the paraxylene-naphtha spread touched 1-month low. ExxonMobil nominated its December Asia Contract Price which was up US$65 a ton from the November. Isomer mixed xylene prices rose on buying for January while paraxylene-mixed xylene spread retreated from 4-month high.
In Europe, paraxylene prices jumped assessed at Asian netback while initial December contract was up on the month. European paraxylene spot jumped US$31 a ton on the week.
In US, paraxylene spot moved higher following Asia and contract prices for November settled higher from October. Spot orthoxylene prices were assessed up on the week. Spot paraxylene moved higher following Asia while contracts settled US cent 0.50 higher per pound.
Courtesy: Weekly PriceWatch Report
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