Asian paraxylene prices rose US$17 a ton FOB Korea in the second week of March. Isomer-grade mixed xylenes was assessed up on the week at US$632 a ton FOB Korea and US$652 a ton CFR Taiwan.
Paraxylene prices rose opening the week in Asian market as crude oil values firmed while they moderated a bit in the subsequent days only to rise weekend on firm bids. Meanwhile, isomer grade mixed xylene prices were up tracking gains in up and downstream amid thin activity.
In US, paraxylene spot tracked higher Asian numbers while supply is expected to tighten. Demand could improve in coming weeks to support prices. US spot increased US$20 a ton FOB USG on the week.
In Europe, contract prices for paraxylene and orthoxylene were fully settled for March. Paraxylene spot also gained on Asian cue in a quiet market, as participants returned from a major petrochemical conference. Spot paraxylene prices were up US$17 a ton FOB Rotterdam while contract price settlement was up Euro10 a ton on the month.
Courtesy: Weekly PriceWatch Report
