Asian paraxylene prices gained US$14 a ton FOB Korea and CFR Taiwan/China in the third week of August. Paraxylene prices rose throughout the week in Asian market only resting on Thursday as crude rebounded sharply opening the week and rallied on Thursday. The paraxylene-naphtha spread also narrowed down rapidly during the week.
Paraxylene price gains in Asia, US
Asian paraxylene prices gained US$2 a ton FOB Korea and CFR Taiwan/China in the second week of August. Paraxylene markets in Asia opened the week with prices falling and moved in tandem with crude oil markets. However, prices recovered weekend as crude and naphtha rebounded sharply. However, weak demand from downstream PTA markets limited the price recovery.
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Paraxylene price rises on firm buying interest
Asian paraxylene prices gained US$0.50 a ton FOB Korea and CFR Taiwan/China in the first week of August. Paraxylene prices rose weekend and on the week in Asian markets on firm buying interest while decline in PTA futures capped further gains. The paraxylene-naphtha spread rose sharply as naphtha remained almost flat.
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Paraxylene price falls across all regions
Asian paraxylene prices fell US$27 a ton FOB Korea and CFR Taiwan/China in the last week of July. Paraxylene prices in Asian markets plunged weekend and on the week as downstream PTA markets was sluggish while August contract prices of major producers were lowered.
Meanwhile, mixed xylene market gradually widened from flat to a contango while spot prices remained unchanged amid thin liquidity. Demand for orthoxylene was sluggish as downstream still weak.
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Paraxylene prices flat to up in Asian markets
Asian paraxylene prices were up US cents 17 a kg in the third week of July and CFR Taiwan/China was unchanged from previous week. Paraxylene prices were flat to marginally up in Asian markets on weak demand.
Downstream PTA plants in China were running at 50-60% while G20 summit in September will curb output further. Isomer-grade mixed xylene prices also fell on the week despite edging up week end on firmer September demand.
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Paraxylene price jumps in Europe while down in Asia, US
Asian paraxylene prices inched down US$1 a ton FOB Korea and CFR China in the second week of July. Mixed xylene August CFR Taiwan cargo was offered at US$682 a ton, without attracting any buying interest. Paraxylene prices in Asian markets slipped on the week with the restart of Singapore’s JAC facility which may achieve on-spec operation by end-July. Meanwhile, India’s Reliance Inds has planned phased start up of its 2.25 mln ton a year paraxylene production facility from October onwards.
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Paraxylene price slips amid weak crude
Asian paraxylene prices inched down US$2.17 a ton FOB Korea in the first week of July while CFR China was down US$1.50 a ton on the week.
Paraxylene prices in Asian market slipped on the week as crude and naphtha weakened while downstream PTA September futures close down. Cost support appears eased since raw material cost of paraxylene fell sharper than product price. Meanwhile, July contract negotiations reached a major settlement, the first since April.
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Paraxylene price jumps across all regions
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.
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Paraxylene price falls amid softening upstream cost
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.
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Paraxylene prices surge in Asia, US
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.
