Asian paraxylene markers rolled over in the last week of August. Paraxylene prices were flat in Asia after rebounding week end helped by rising October crude oil futures. Downstream PTA futures for September too jumped on the week. ExxonMobil nominated its September Paraxylene Asia Contract Price during the week and it was down US$70 a ton CFR from its last nomination for August. Other nominations have so far been made around the same range.
In Europe, paraxylene and orthoxylene experienced a similar turnaround, though the intra-week dip brought prices down to the lowest levels only since April. Paraxylene price dropped US$28 a ton FOB ARA.
In US, spot declined for another week as RBOB gasoline pressured pricing lower. Demand for mixed xylene also remained weak. Spot paraxylene assessments fell US$5 a ton FOB USG for the week while mixed xylene dropped US cents 20 per gallon on the week.
Courtesy: Weekly PriceWatch Report
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