Asian paraxylene prices were down US$4.83 a ton CFR Taiwan/China and FOB Korea in the last week of February. Isomer-grade mixed xylene declined US$15 a ton FOB Korea and CFR Taiwan.
Paraxylene prices in Asian markets were up weekend on the back of firm buying interest but were still down on the week as they declined sharply on Thursday. Meanwhile, paraxylene-mixed xylene spread retreated from 26-month high as isomer-grade mixed xylene rose on weekend. Major suppliers nominated their March contract price above spot numbers.
In US, paraxylene spot declined as Asia continue to drive US price while feedstock pricing moved lower. US spot paraxylene fell US$10 a ton FOB USG on the week.
In Europe, mixed xylene prices remained bearish on closed arbitrage and subdued demand while paraxylene ended the week bearish on the back of substantial weakness in market fundamentals. European paraxylene spot fell US$11.50 a ton while mixed xylene fell US$17.50 a ton on the week.
Courtesy: Weekly PriceWatch Report
