Asian paraxylene prices inched down US$2.17 a ton FOB Korea in the first week of July while CFR China was down US$1.50 a ton on the week.
Paraxylene prices in Asian market slipped on the week as crude and naphtha weakened while downstream PTA September futures close down. Cost support appears eased since raw material cost of paraxylene fell sharper than product price. Meanwhile, July contract negotiations reached a major settlement, the first since April.
In Europe, xylene prices were down as oil complex remained volatile while paraxylene July contract was fully settled. Spot prices showed some easiness. European paraxylene prices slipped US$1.50 a ton on the week.
In US, paraxylene market saw stability as global fundamentals remained unchanged.
Courtesy: Weekly PriceWatch Report
