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Paraxylene prices surge in Asia, US while decline in Europe

YarnsandFibers News Bureau 2016-10-26 02:49:39 –

Asian paraxylene prices were up US$2 a ton CFR Taiwan/China and FOB Korea in the second week of October. Isomer mixed xylene last offer for November was down US$2 a ton FOB Korea.

Paraxylene prices in Asian markets inched up on the week after falling sharply Thursday across Asia and Europe. The weekly rise was due to firmer PTA and crude oil prices. Meanwhile, SKGC plans to restart its paraxylene plant in H2 October.

Isomer mixed xylene prices were flat amid selling pressure as offers for November cargo pared back early gains. Orthoxylene prices in Asia were up on the back of a firmer downstream.

In US, paraxylene spot edged higher on the week looking at Asia, although domestic activity was minimal amid stable fundamentals. US spot paraxylene rose US$5 a ton FOB USG while spot orthoxylene prices were up US$44 on the week. Mixed xylene pricing for October surged US cents 15 per gallon.

In Europe, paraxylene spot prices slid on the week as buying interest retreated due to bearishness in the Asian market. Paraxylene prices edged down US$3 a ton on the week.

Courtesy: Weekly PriceWatch Report

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