Asian paraxylene prices increased US$15 a ton CFR Taiwan/China and FOB Korea in the last week of June. Isomer-grade mixed xylene prices gained US$11.50 a ton FOB Korea on the week. Paraxylene prices rose day on day in Asian market posting week rise after giving back partially weekend. Spot demand was largely flat amid lengthy supply, with not many end-users in the market to source for spot volumes.
There were also ample offers from the US, Middle East and India, with regular arbitrage volumes moving from US and Europe to Asia. Isomer-grade mixed xylene also gained in firming energy complex. July paraxylene contract prices were reached, first since April.
In Europe, paraxylene demand remained modest and prices rose on Asian cues. However, prices are set to soften in July on back of supply balance. European spot paraxylene also jumped US$15 a ton FOB Rotterdam on the week.
In US, paraxylene spot inched up on Asian firmness and bids and offers rose towards the close of the week on rising crude oil prices. Prompt spot paraxylene gained US$10 a ton FOB USG on the week.
Courtesy: Weekly PriceWatch Report
