Asian paraxylene prices inched up US$8.83 a ton FOB Korea and CFR Taiwan/China in the last week of March. Asian contract price for April was finally settled and was up US$70 a ton.
Paraxylene prices in Asian markets rose on the week on firm crude and higher PTA futures. Asian contract price for April was settled up on the month. March ended with a rise of 8.5% or US$61.
In US, spot paraxylene gained from last week, hovering at Asia netback while March contract price settled on the month. Spot paraxylene gained US$20 a ton FOB USG on the week.
In Europe, expectations for the April paraxylene contract price turned increasingly bullish, following a large rise in the Asia settlement that week. Spot was up on the week while it gained 8.3% or US$53 on the month to average US$693 a ton.
Spot paraxylene prices in Europe gained US$7.50 a ton FOB Rotterdam during the week.
Courtesy: Weekly PriceWatch Report
