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Paraxylene prices surge on downstream rally

YarnsandFibers News Bureau 2016-11-23 06:44:29 –

Asian paraxylene prices jumped US$22.67 a ton CFR Taiwan/China and FOB Korea in the second week of November. Isomer mixed xylene offers gained US$21 a ton FOB Korea on the week.

Paraxylene prices in Asian markets surged on the week on downstream rally. The January PTA futures jumped over 8% on week. Isomer mixed xylene spot prices also jumped in support of paraxylene markets.

In US, paraxylene spot was higher followed Asian numbers. Feedstock mixed xylene remained limited with pricing for November down week on week. However, liquidity remained thin and US continued to hover in a narrow range. Orthoxylene contract prices rolled for November that week. US spot paraxylene was up US$15 a ton FOB USG on the week.

In Europe, mixed xylene prices plummeted as Brent crude futures dropped while paraxylene was up on Asian cues. Paraxylene prices rose US$13 a ton on the week while November contract price was fully settled which was up Euro10-20 a ton on the month.

Courtesy: Weekly PriceWatch Report

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