Asian paraxylene prices fell US$27 a ton FOB Korea and CFR Taiwan/China in the last week of July. Paraxylene prices in Asian markets plunged weekend and on the week as downstream PTA markets was sluggish while August contract prices of major producers were lowered.
Meanwhile, mixed xylene market gradually widened from flat to a contango while spot prices remained unchanged amid thin liquidity. Demand for orthoxylene was sluggish as downstream still weak.
In US, paraxylene spot moved lower following Asian numbers and unviable production economics. Spot paraxylene price fell US$25 a ton FOB USG on the week. Spot mixed xylene pricing for August declined US cents 9 a gallon on the week.
European paraxylene market also tracked Asian falling prices. Paraxylene prices lost US$27.50 a ton on the week.
Courtesy: Weekly PriceWatch Report
