Asian paraxylene prices edged down US$5.33 a ton CFR Taiwan/China and FOB Korea in the second week of February. Isomer-grade mixed xylene declined US$20 a ton FOB Korea a ton on the week.
Paraxylene prices fell weekend and on the week in Asian markets on weaker sentiment and heavy selling as April offers fell to just above the spot. Isomer mixed xylene also fell as demand stayed sluggish. Buying power from China and Taiwan was weak.
In US, paraxylene spot movement followed Asia lower amid thin liquidity. Feedstock mixed xylene was quiet amid tight supply. US spot paraxylene fell US$5 a ton FOB USG on the week. Mixed xylene February pricing fell US cent 1 a gallon FOB USG.
In Europe, xylene fundamentals persisted amid quiet trade quiet. Reformer issues kept supply tight while arbitrages remained closed. Mixed xylene prices climbed amid crude bullishness and finding support from firm bids. European paraxylene spot fell US$10.50 a ton while mixed xylene rose US$24 a ton on the week.
Courtesy: Weekly PriceWatch Report
