Asian paraxylene prices were up US$11.67 a ton FOB Korea while CFR Taiwan/China gained US$11.50 a ton in the last week of June. JX Nippon Oil & Energy nominated its July paraxylene Asia contract price which was up US$70 a ton CFR from its June nomination.

Paraxylene prices rose week on week in Asian markets but was down weekend as demand seems to have faded as downstream PTA plants announced shutdowns.

Hanbang plans to restart its PTA plants in early July while Yisheng will shut its Dalian PTA plant in July. Japan’s JX nominated July ACP at up from June, taking cue from firming spot numbers.

In US, paraxylene spot was higher as June contracts settle amid quiet demand. Production economics was still unattractive. US spot paraxylene rose US$10 a ton FOB USG on the week.

In Europe, mixed xylene markets were mixed as oil prices remain volatile and buyers and sellers remained divided. Paraxylene prices were up on the week although they settled lower on weekend. European spot paraxylene was up US$12 a ton while pot mixed xylene prices dropped US$19.50 a ton on the week.

Courtesy: Weekly PriceWatch Report