Asian paraxylene prices rose US$13 a ton CFR Taiwan/China and FOB Korea in the third week of January. Spot mixed xylene jumped US$32.50 a ton FOB Korea while orthoxylene prices rose US$20 a ton CFR China.
Paraxylene prices were up in Asian markets as Sinopec settles January contract prices and South Korea's exports rise 10% in 2016. Orthoxylene prices were buoyed by short supply amid rising feedstock isomer-grade mixed xylene prices.
In US, paraxylene spot saw another week of gains as Asia pulls US pricing higher. However, mixed xylene and paraxylene spread remained unfavorable. Xylenes spot touched 17-month high on tight inventories although Asian shipments headed to US. US spot paraxylene rose US$10 a ton FOB USG on the week. Spot mixed xylene January and February pricing rose US cents 5 per gallon FOB USG.
In Europe, paraxylene spot gained as fundamentals held firm on supply-demand mismatch. European paraxylene spot gained US$14 a ton.
Courtesy: Weekly PriceWatch Report
