Asian paraxylene prices were up US$1.83 a ton CFR Taiwan/China and FOB Korea in the third week of February. Isomer-grade mixed xylene declined US$11 a ton FOB Korea on the week.
Paraxylene prices in Asian market inched up on the week with a surge opening the week and dropping day on day later only to gain marginally at weekend. The rise was prompted by cautious demand for both prompt and forward cargoes. Meanwhile, feedstock isomer-grade mixed xylenes tumbled week on week.
In US, paraxylene spot posted slight increase with market eyeing Asian movement. Mixed xylene-paraxylene spread rose but stayed under break-even point. US spot paraxylene increased US$5 a ton FOB USG on the week.
In Europe, mixed xylene climbed on bullish crude and firm bids but paraxylene spot was subdued throughout the week after opening with a rise. European paraxylene spot fell US$4 a ton while mixed xylene rose US$24 a ton on the week.
Courtesy: Weekly PriceWatch Report
