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Paraxylene price sinks on weak energy complex

YarnsandFibers News Bureau 2016-01-20 08:41:42 –

Asian paraxylene prices fell US$20.83 a ton FOB Korea and CFR Taiwan/China in the first week of January.

Yisheng Petrochemical and ExxonMobil fixed their contract price at US$750 a ton. Isomer-grade mixed xylene inched were at US$614 a ton FOB Korea and US$642 a ton CFR Taiwan.

Paraxylene prices plunged in Asian markets tracking the rapidly weakening energy complex. Demand was also insipid but there was a slight recovery weekend on rise in mixed xylene cost.

January Asian contract price was also settled partially down.

In US, paraxylene market moved lower amid thin liquidity tracking falling Asia and lower feedstock mixed xylene. US spot paraxylene fell US$5 a ton FOB USG.

In Europe, xylene prices reached multi-year lows, as crude oil prices hit fresh lows and demand remained lackluster.

January orthoxylene contract price was fully settled amid bearish paraxylene contract price expectations.

Paraxylene spot was down US$22 on the week. Mixed xylene spot price was at US$500 a ton FOB ARA.

Courtesy: Weekly PriceWatch Report

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