Asian paraxylene prices inched up US$4.70 a ton CFR Taiwan/China and FOB Korea in the third week of October. Paraxylene price were up in Asian markets as downstream January PTA futures fell and JX shutting its Kashima plant after a fire broke out on 20 October. However, market outweighed the effect of a sudden plant shutdown. Mixed xylene offers for December cargo also fell with December Brent crude down weekend.
In US, paraxylene spot inched up as October CP settled up but consistent fundamentals limited price movement as production economics remained unfavorable. Spot mixed xylene and orthoxylene pricing also rose. US spot paraxylene rose US$5 a ton FOB USG. Spot mixed xylene pricing for October rose US cents 4 per gallon. Orthoxylene prices were up US cent 0.75 on the week.
In Europe, paraxylene prices regained previous losses and isomer mixed xylene spread narrowed on divergent demand. Paraxylene prices regained US$8.50 a ton on the week.
Courtesy: Weekly PriceWatch Report
