Asian paraxylene prices gained US$7-8 a ton CFR Taiwan/China and FOB Korea in the first week of September. Thus, the paraxylene-naphtha spread reduced to US$27.05 a ton on the week. Bids for mixed xylene also rose on the week.
Paraxylene prices rose week on week in Asian markets on higher upstream prices while the paraxylene-naphtha spread shrank on the week. Isomer-mixed xylene bids for November cargoes rose as crude futures shot up on Thursday.
In US, paraxylene spot rose tracking Asia numbers while demand increased slightly. Production economics were still unviable as market remained quiet with pricing hovering at the netback to Asia. Spot mixed xylene pricing for September also on the week. US spot paraxylene rose US$5 a ton FOB USG on the week. Mixed xylene pricing for September rose US cents 3 per gallon FOB USG.
European spot paraxylene jumped in line with Brent’s movement. Paraxylene prices regained US$11.50 a ton while outright mixed xylene was down US$13 a ton on the week.
Courtesy: Weekly PriceWatch Report
