Asian paraxylene prices were up US cents 17 a kg in the third week of July and CFR Taiwan/China was unchanged from previous week. Paraxylene prices were flat to marginally up in Asian markets on weak demand.
Downstream PTA plants in China were running at 50-60% while G20 summit in September will curb output further. Isomer-grade mixed xylene prices also fell on the week despite edging up week end on firmer September demand.
In Europe, paraxylene spot fell marginally amid volatility in the energy complex. Mixed xylene prices remained supported as prompt tightness persisted. Paraxylene prices lost US$2.50 a ton while mixed xylene premium was up US$28 a ton on the week. July-August structure was in backwardation at US$40 a ton.
In US, paraxylene spot rolled over amid range bound illiquidity and relatively stable Asian pricing. Downstream demand was seasonally strong.
Courtesy: Weekly PriceWatch Report
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