Asian paraxylene markers were down US$18 a ton FOB Korea while CFR Taiwan/China lost US$18.50 a ton in the third week of June.
Paraxylene prices in Asian markets declined on the week as upstream cost softens simultaneously with weakening demand from PTA makers amid increased supply. In China, Hanbang shuts its PTA plant while South Korea’s May exports rose 34% on the month.
Asian paraxylene markers were up US$19.83 a ton FOB Korea in the second week of June while CFR Taiwan/China gained US$20.50 a ton. Isomer-grade mixed xylenes also rose during the week.
Paraxylene prices in Asian markets moved in line with oil prices, surging day on day throughout the week only to fall back on weekend seeing crude declining on last two days of the week.
Reportedly, G20 summit impacted China paraxylene market to some extend while Dragon Boat holidays curtailed trading activity.
Asian paraxylene markers were up US$19.67 a ton FOB Korea and up US$20.50 a ton CFR Taiwan/China in the first week of June. Isomer-grade mixed xylenes also rose US$6 a ton FOB Korea.
Paraxylene prices in Asia regained past four weeks prices loss by rising on the week and on weekend as plants in China plan to reduce rates for G20.
Meanwhile, India’s OMPL restarted its plant as rains resumed and water shortage eased. Isomer mixed xylene prices rose on bullish buying sentiment and the spread between PX-MX widened to 1-month high.
Asian paraxylene prices were down US$9.50-10.00 a ton FOB Korea and CFR Taiwan/China in the last week of May. Mixed xylene cargo offers were down US$8-9 a ton FOB Korea on weaker downstream market and there were no bids.
Paraxylene prices slipped on the week and on weekend in Asian markets as weakness in both upstream and downstream which continued to pressure prices.
June Asian contract prices were nominated much higher than the dwindling spot numbers. The spread between FOB Korea mixed xylene and CFR Taiwan/China paraxylene marker narrowed down.
Asian paraxylene prices inched up US$5.50 a ton FOB Korea and CFR Taiwan/China in the third week of May.
Paraxylene prices in Asian markets inched up on support of firm crude oil prices while demand was still modest which limited the uptrend. However, with a few restarts coming up, spot will remain active.
China's Jialong and India’s Reliance are expected quick restart their respective PTA lines soon. Meanwhile, paraxylene-naphtha spread shrunk to a 4-month low. Isomer mixed xylene was dearer on rebounding buying sentiment.
Asian paraxylene prices fell US$4.00-4.33 a ton FOB Korea and CFR Taiwan/China in the second week of May. Paraxylene prices declined on the week and sharply on that weekend amid weak downstream futures market.
The September PTA futures was down in China while Reliance expects quick restart of Dahej PTA line which can result in ample supply.
South Korea’s SK Global Chemical plans to shut its aromatics plant at Ulsan for 40 days from 20 May for TA.
Asian paraxylene prices fell US$29.33 a ton FOB Korea and CFR Taiwan/China in the first week of May.
Paraxylene prices in Asian market tumbled weekend and on the week on sliding downstream PTA futures. Meanwhile Hanbang improved run rate of its new PTA line, which expanded supply amid weak demand. Isomer, mixed xylene prices also declined due to weak up and downstream sectors.
Asian paraxylene prices gained US$16 a ton FOB Korea and CFR Taiwan/China in the last week of April.
Paraxylene spot in Asia rose on the week while May contract price failed to settle as negotiations ended in a narrow range.
Meanwhile, FCFC will restart its Ningbo PTA plant, which can spur demand for paraxylene in coming weeks.
In US, spot paraxylene market tracked higher Asian movement while interest to export to Asia remained open amid settlement of April contract prices. Spot rose US$15 a ton FOB USG on the week.
Asian paraxylene prices gained US$13 a ton FOB Korea and CFR Taiwan/China in the third week of April.
Paraxylene prices declined on the first day and the last day of that week, but gained handsomely in between in Asian and European markets as crude prices firmed up.
Meanwhile, state-owned China Petroleum and Chemical Corporation, or Sinopec, settled its April contract price up from its March settlement. Sinopec settled its April contract price for paraxylene which was up US$15 a ton from its March settlement.
Asian paraxylene prices gained US$5 a ton FOB Korea and CFR Taiwan/China in the second week of April. A South Korean paraxylene producer settled long-term contracts for 2016 at a discount of US$2.50 a ton for non-Asian participants, US cents 50 wider from 2015.
