Asian paraxylene prices gained US$9-10 a ton FOB Korea and CFR Taiwan/China in the last week of February. Isomer-grade mixed xylene was assessed at US$589.50 a ton FOB Korea and US$618.50 a ton CFR Taiwan.
Paraxylene prices in Asian markets rose early in the week only to give back some of the gains mid-week. However, they recovered weekend on bullish demand although May PTA futures in China fell amid Sinopec’s March contract price nomination. Isomer-grade mixed xylene prices were flat in thin trade while inventory in East China hit a 6-month high.
In US, paraxylene February contract was settled lower while spot was higher behind Asia gains. Demand is expected to strengthen in short-term. Meanwhile, mixed xylene spot prices moved higher on energy complex amid ample supply ample.
US spot paraxylene was up US$10 a ton FOB USG on the week. Mixed xylene rose US cents 6 a gallon FOB USG for March.
In Europe, spot paraxylene was up on the week assessed at Asian netback. Spot paraxylene prices were up US$9 a ton FOB Rotterdam while mixed spot prices rose US$40.50 a ton FOB ARA on the week.
Courtesy: Weekly PriceWatch Report
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