Asian paraxylene prices gained US$1 a ton both FOB Korea and CFR Taiwan/China in the last week of September. Isomer-grade mixed xylene prices were down US$2 a ton FOB Korea.
Paraxylene prices gained on the week as crude oil prices recovered sharply that week. Meanwhile isomer-grade mixed xylenes prices fell marginally as stable downstream stemmed further fall.
Asian paraxylene prices rose US$17.50 a ton both FOB Korea and CFR Taiwan/China in the fourth week of September.
Nominations for October Asian contract prices have begun ranging from flat to up. October Asian contract prices were heard nominated in the range of US$800-$850 a ton, up from September numbers.
In US, paraxylene spot market followed Asian rising trend and on tight feedstock supply. Spot mixed xylene rose on the week due to limited supply amid reformate arbitrage and turnarounds. Spot was slightly higher than blended value.
Asian paraxylene markers fell US$12 a ton on the week a ton both FOB Korea and CFR Taiwan/China in the third week of September. Feedstock isomer-grade mixed xylenes fell US$13 a ton FOB.
Paraxylene prices in Asian markets fell for the second consecutive week on weaker upstream and as weeklong National Holidays in China draw closer.
Crude oil futures also dipped for the third week in a row while downstream PTA futures for January also closed lower on the Zhengzhou Commodity Exchange. Asian isomer-grade mixed xylenes fell on keen selling interest.
Asian paraxylene markers gained US$17 a ton both FOB Korea and CFR Taiwan/China in the first week of September after remained flat in the previous week. Feedstock isomer-grade mixed xylenes rose US$21.50 a ton FOB Korea while orthoxylene prices were assessed up US$10 a ton CFR China and FOB Korea.
Paraxylene prices climbed in Asian markets on the week amid thin market but rising feedstock cost. Isomer-grade mixed xylenes were dearer week on week despite inventory levels rising in East China.
Asian paraxylene markers rolled over in the last week of August. Paraxylene prices were flat in Asia after rebounding week end helped by rising October crude oil futures. Downstream PTA futures for September too jumped on the week. ExxonMobil nominated its September Paraxylene Asia Contract Price during the week and it was down US$70 a ton CFR from its last nomination for August. Other nominations have so far been made around the same range.
Paraxylene prices declined in Asian markets in the third week of August as availability increased amid weak demand. China's Ningbo Zhongjin Petrochemical achieved on-spec paraxylene and benzene output from its new aromatics plant in eastern Zhejiang province earlier this week. Orthoxylene prices also fell amid declines in upstream and downstream demand. Asian paraxylene markers fell US$39 a ton FOB Korea and CFR Taiwan/China both on the week.
Paraxylene prices have been on a downward slide ever since the crude oil prices started falling and more recently because of CNY devaluation. However, paraxylene prices moderated in the second week of August in Asian markets.
