Asian paraxylene prices gained US$13 a ton FOB Korea and CFR Taiwan/China in the third week of April.
Paraxylene prices declined on the first day and the last day of that week, but gained handsomely in between in Asian and European markets as crude prices firmed up.
Meanwhile, state-owned China Petroleum and Chemical Corporation, or Sinopec, settled its April contract price up from its March settlement. Sinopec settled its April contract price for paraxylene which was up US$15 a ton from its March settlement.
India’s Reliance plans restarting its PTA units after some water issues appearing resolved.
In Europe, paraxylene was assessed as netback to Asia while mixed xylenes premium to gasoline EBOB swap was assessed stable on the week. Downstream PET prices were seen rising as summer season approaches. European spot prices gained US$14 a ton FOB Rotterdam on the week.
US paraxylene spot saw minimal gain as Asia remained primary driver.
Courtesy: Weekly PriceWatch Report
