Paraxylene prices in Asian markets fell in the last week of July after being lifted the previous week while a partial contract price settlement was reached by Idemitsu, Yisheng. However, the Curve flipped into contango as turnarounds loomed large. Mixed xylene prices also declined on softer upstream and downstream markets.
In Europe, paraxylene prices rose week on week as mixed xylene sellers remained and was at a premium to August gasoline. US paraxylene spot market tracked falling Asian numbers while demand stayed low amid poor economics and spot assessments fell week over week.
Asian paraxylene benchmark the CFR Taiwan/China marker was assessed down US$17 a ton on the week. Also, the FOB Korea marker was down US$19 a ton. US spot paraxylene assessments fell US$15 a ton while paraxylene price in Europe were up US$16 on the week.
Courtesy: Weekly PriceWatch Report
