Asian paraxylene prices were down US$9.50-10.00 a ton FOB Korea and CFR Taiwan/China in the last week of May. Mixed xylene cargo offers were down US$8-9 a ton FOB Korea on weaker downstream market and there were no bids.
Paraxylene prices slipped on the week and on weekend in Asian markets as weakness in both upstream and downstream which continued to pressure prices.
June Asian contract prices were nominated much higher than the dwindling spot numbers. The spread between FOB Korea mixed xylene and CFR Taiwan/China paraxylene marker narrowed down.
In US, paraxylene spot dipped following Asia and pricing remained at netback. May contract was heard settled at an increase. US spot paraxylene fell US$10 a ton FOB USG during the week.
In Europe, praxylene prices inched up as spot supply diminished. Meanwhile, the markets did not find much support from French strike as the week ended on an extremely bullish note. European spot price rose US$3.50 a ton while orthoxylene jumped US$20.50 a ton on the week.
Courtesy: Weekly PriceWatch Report
