Asian paraxylene prices gained US$2 a ton FOB Korea and CFR Taiwan/China in the second week of August. Paraxylene markets in Asia opened the week with prices falling and moved in tandem with crude oil markets. However, prices recovered weekend as crude and naphtha rebounded sharply. However, weak demand from downstream PTA markets limited the price recovery.

In US, spot paraxylene fundamentals were stagnant despite mid-week trade added good liquidity. Meanwhile, mixed xylene prices move higher as most refinery extractions were absent amid slight uptick in buying interest. Spot paraxylene gained US$10 a ton FOB USG on the week. Spot mixed xylene pricing for August and September was up US cents 4 per gallon on the week.

In Europe, paraxylene market tracked Asian movements while mixed xylene fundamentals remained detached from gasoline blending. Paraxylene prices increased US$3 a ton on the week. Mixed xylene was down US$19.50 a ton from first week.

Courtesy: Weekly PriceWatch Report