Asian paraxylene prices inched up US$3.67 a ton CFR Taiwan/China and FOB Korea in the second week of January. Isomer mixed xylene declined by US$12 a ton FOB Korea on the week.
Paraxylene prices in Asian markets inched up on the week after falling opening the week and recovering in the end as naphtha bounced on Thursday. Thus, the paraxylene--naphtha spread narrowed mid-week. Isomer mixed xylene also fell during the week.
In US, paraxylene spot edged higher following Asian cues but pricing hovered at Asia netback. Feedstock mixed xylene held strong amid stagnant fundamentals and tight supply. Asia arbitrage to US was workable. US spot paraxylene rose US$15 a ton FOB USG on the week. Spot mixed xylene January and February pricing was held steady.
In Europe, paraxylene fundamentals were firm as supply-demand mismatch took its grip. Outright prices on solvent and isomer grades mixed xylene were assessed up from last week, finding support from firmer bids during the week. European paraxylene spot gained US$7 a ton on the week.
Courtesy: Weekly PriceWatch Report
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