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Paraxylene prices firmed up in the week ended 12 June but fluctuated week end on sluggish crude oil markets and weakening aromatics values. Asian markers, the FOB Korea and CFR Taiwan/China, rose US$22 on the week, but fell US$9 on 12 June.

In Europe paraxylene spot gained on firmer crude oil while June European contract price remained unchanged from May leaving spot prices at a 15 per cent discount. During the week, price gained US$22 a ton FOB ARA. June contract price rolled over at Euro880 a ton equating just under US$990 a ton.

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Asian paraxylene prices shot up significantly back to June end levels as traders' scrambled for short-covering in the week ended 18 July 2014. Prices continued to remain supported by shortage owing to the postponed start-up of new unit run by Total, planned maintenance of several units in China as well as the delayed restart of units run by JX Nippon. In the last two days of the week, prices gained as much as US$61 a ton and over the week, they were up US$83.50 closing the week at US$1,460-1,461 a ton FOB Korea and US$1,482-1,483 a ton CFR Taiwan/China.

Related Keywords: daily textile prices, naphtha price, Paraxylene price in asia, Paraxylene price in Europe, polyester chip price, polyester fibre price, polyester filament price, PTA prices

Related Keywords: daily textile prices, naphtha price, Paraxylene price in asia, Paraxylene price in Europe, Paraxylene price in USA, polyester chip price, polyester fibre price, polyester filament price, PTA prices

Asian contract price for paraxylene (Px) once again failed to reach a settlement for June, for the eighth time in the last 10 months. Meanwhile, spot prices have jumped US$145 during June, the second highest monthly gain in 24 months. In June prices surged throughout the month on active short covering for July. They are now at their 2014 peak.

Related Keywords: daily textile prices, Paraxylene price in asia, Paraxylene price in Europe, Paraxylene price in USA, polyester chip price, polyester fibre price, polyester filament price, PTA prices

There has been no contract price settlement for paraxylene in Asian market since February this year and the spot is used to peg derivative PTA values. Japan's JX Nippon Oil and Energy although finished its negotiations for the May Asian Contract Price for paraxylene but could not reach a settlement. Meanwhile spot paraxylene prices dropped US$70-75 a ton in March only to recover partially in April. In Europe too, May contract failed to settle while March and April saw spot numbers losing over US$80 a ton.