Paraxylene price moves up in tandem with crude oil

YarnsandFibers News Bureau 2016-10-19 04:36:29 –

Asian paraxylene prices were up US$10 a ton CFR Taiwan/China and FOB Korea in the first week of October. Isomer mixed xylene were up US$11 a ton FOB Korea on the week.

Paraxylene prices moved up sharply opening the week only to give back on subsequent days and ending with a small gain weekend, to close the week up. The movements were in tandem with crude oil climbs.

In US, paraxylene spot rose following Asia as it remains a major destination for US goods while domestic demand was persistently quiet. Xylene fundamentals were steady but sellers were absent as derivative production was still unattractive.

In Europe, paraxylene spot marked Asian trend while mixed grades held strong on buying interest amid limited supply. Paraxylene prices were up US$5 a ton on the week.

US spot paraxylene increased US$10 a ton FOB USG. Spot mixed xylene pricing for October rose US cent 1 a gallon on the week.

Courtesy: Weekly PriceWatch Report

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