Asian paraxylene prices inched down US$1 a ton FOB Korea and CFR China in the second week of July. Mixed xylene August CFR Taiwan cargo was offered at US$682 a ton, without attracting any buying interest. Paraxylene prices in Asian markets slipped on the week with the restart of Singapore’s JAC facility which may achieve on-spec operation by end-July. Meanwhile, India’s Reliance Inds has planned phased start up of its 2.25 mln ton a year paraxylene production facility from October onwards.
In US, paraxylene contracts for July settled lower as spot remained range bound behind Asia amid thin liquidity. Spot paraxylene was down US$5 a ton FOB USG on the week.
In Europe, paraxylene and mixed xylene ended the week on a bullish note due to a shortage of material. Spot paraxylene gained amid weak sell interest. Paraxylene prices gained US$1.50 a ton while mixed xylene premiums were up US$14 a ton on the week.
Courtesy: Weekly PriceWatch Report
