Asian paraxylene prices jumped US$32 a ton CFR Taiwan/China and FOB Korea in the second week of December. Isomer mixed xylene moderated US$3 a ton FOB Korea on the week.
Paraxylene prices hit a 2016 peak opening the week as bullish energy values and strong futures prices in the downstream PTA markets exerted significant upward pressure on trading values. China’s Sinopec adjusted its December paraxylene nomination price upwards from its initial numbers.
European paraxylene prices edged up as Brent crude climbed above US$54 while mixed xylene prices remained firm on high December bids while January remained backwardated. European paraxylene spot jumped US$32.50 a ton on the week.
In US, paraxylene spot rose tracking Asian values while feedstock mixed xylene’s upward trend continued. Spot mixed xylene December pricing rose US cents 3 per gallon on the week.
Courtesy: Weekly PriceWatch Report
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