Asian paraxylene prices fell US$21 a ton CFR Taiwan/China and FOB Korea in the last week of April. Isomer-grade mixed xylene prices dropped US$6.50 a ton FOB Korea on the week.
Paraxylene prices declined in Asian markets as demand sobered dramatically while a late rally in crude prices limited further drop. Upstream, isomer grade mixed xylene values also dropped on falling downstream while supply will resume with Japanese refineries coming back from turnaround in June.
In US, spot fell on lower global pricing and the spread between mixed xylene and paraxylene widened. March contracts remained unsettled. US spot paraxylene prices fell US$15 a ton FOB USG and PX-MX spread widened to US$135 a ton.
In Europe, contract outlook appeared cloudy after collapse of Asian contract talks while lackluster demand kept spot liquidity subdued and mixed xylenes moved sideways amid bid-offer variations. Paraxylene spot was down US$19 a ton while mixed xylene spot dropped US$18 a ton CIF ARA on the week.
Courtesy: Weekly PriceWatch Report
