Asian paraxylene prices gained US$30.33 a ton FOB Korea and CFR Taiwan/China in the last week of January. The FOB Korea mixed xylenes marker rose US$32 a ton.
Paraxylene prices rebounded further in Asian markets on the week as February contract prices were settled by major producers. Meanwhile, Isomer-mixed xylene prices also jumped weekend on firm buying while forward curve flipped to contango.
In US, paraxylene spot tracked rising Asian values while decline in feedstock mixed xylene softened amid improved production economics. Arbitrage to Asia was open on paper.
US spot paraxylene rose US$5 a ton FOB USG on the week. Spot mixed xylene fell US cents 12 per gallon FOB USG for February and March.
In Europe, February contract price was down on low crude and weak fundamentals. Spot prices however, were up on the week as mixed xylene prices moved up on the week.
Spot paraxylene prices gained US$24.50 a ton FOB Rotterdam during the week.
Courtesy: Weekly PriceWatch Report
