Asian paraxylene prices remained in the first week of January. Isomer mixed xylene declined US$17 a ton FOB Korea on the week.

SK Global Chemical nominated Jan paraxylene which was US$40 a ton higher than December.

Paraxylene prices remained flat in Asia with the initial gains returned back later in the week. With naphtha rising, the paraxylene spread shrank US$13 a ton that week. Isomer mixed xylene fell as February offers did not find buying interest while arbitrage persisted.

In Europe, paraxylene spot inched up as isomer grades climbed although solvent mixed xylene price was unchanged week-on-week. European paraxylene spot rose US$1 a ton on the week.

In US, paraxylene spot saw minimal movement on Asia and remained on trend with Asia. Upstream supply was however, tight. Spot mixed xylene January and February pricing rose while orthoxylene spot rose on firmer upstream movement.

Courtesy: Weekly PriceWatch Report