Asian paraxylene markers, CFR Taiwan/China fell US$9 a ton in the last week of September while FOB Korea was also down US$9 a ton. Isomer-grade mixed xylene prices lost US$3 on the week. Paraxylene prices in Asia declined during the week in tandem with falling ethylene prices amid somewhat balanced availability in the region. South Korea's Hyundai Cosmo restarted paraxylene plant during the week after shutting it down in August. It has a paraxylene capacity of 380,000 tons a year.
In US, spot paraxylene prices inched up that week as September contracts were expected to settle up. Prompt spot paraxylene jumped US$10 a ton FOB USG, while spot mixed xylenes were down US cents 5 a gallon FOB USG.
In Europe, paraxylene prices moved up during the week on sound demand despite weak ethylene cost. Paraxylene demand is expected to remain at odds as supplies were heard to continue lengthening in Europe. European spot paraxylene rose US$8 a ton FOB Rotterdam during the week.
Courtesy: Weekly PriceWatch Report
