Asian paraxylene prices declined US$11 a ton CFR Taiwan/China and FOB Korea in the last week of May. Paraxylene prices edged down in Asian markets, both on weekend and on the week, demand for July was seen weakening and decline in energy complex. Upstream, isomer graded xylene was also cheaper as crude dipped below US$50 a barrel.
In US, spot paraxylene retreated on softening global demand while availability rose as imports ticked up in May. Mixed xylene spot was also down on weak blend and derivative demand. US prompt spot paraxylene prices fell US$20 a ton FOB USG, while spot mixed xylenes prices softened US cents 6 a gallon FOB USG on the week.
In Europe, liquidity in the paraxylenes markets ebbed further that week, while volatility increased in line with the energy complex. No contract price settlements were heard for paraxylene and orthoxylene yet. European paraxylene spot shed US$8 a ton FOB Rotterdam on the week.
Courtesy: Weekly PriceWatch Report
