Asian paraxylene prices fell US$6 a ton CFR Taiwan/China and while FOB Korea in the last week of March. Major settlements for April contract price was heard cut.
Paraxylene markets in Asia were volatile that week with prices falling early in the week and regaining as crude prices recovered somewhat only to give back some gains weekend. Isomer-grade xylene extended losses amid lengthening supply. Major producers reportedly cut their April contracts from their earlier offers.
In US, paraxylene contracts settled lower for March while mixed-xylene may begin to pick up ahead of impending shift from winter to summer gasoline blend, which will boost demand for paraxylene.
In Europe, spot paraxylene was also cheaper while contracts for April is expected to soften. Spot paraxylene was down US$3.50 a ton on the week. US March contracts settled US cent 0.5 down per pound.
Courtesy: Weekly PriceWatch Report
