Asian paraxylene prices slipped US$1.34 a ton CFR Taiwan/China and FOB Korea in the first week of March. Isomer-grade mixed xylene declined US$2 a ton FOB Korea on the week.
Paraxylene prices declined in Asian markets amid weakness in both up and downstream sectors. In China, the May PTA futures fell Yuan on the exchange. Mixed xylene dipped weekend amid lack of outlets in the CFR Taiwan market with major buyer Formosa Chemical and Fibre Corp. due to shut its aromatics plant in April for turnaround.
In Europe, paraxylene contract price for March was fully settled at a roll over from February while spot declined on the week. European paraxylene spot fell US$6.50 a ton on the week.
In US, paraxylene spot was down on weekend but up on the week as February contract was heard settled and spot mixed xylene slipped with length in market. Spot paraxylene values were up US$5 a ton FOB USG on the week.
Courtesy: Weekly PriceWatch Report
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