Asian paraxylene prices lost US$3-4 a ton FOB Korea and CFR Taiwan/China in the first week of February.
Asian paraxylene prices first fell and then rose on 4th February 2016 again to decline on Friday although the week on week numbers moderated.
In US, spot demand for paraxylene remained weak as derivative markets were happy with supply and as Asian need for US imports were low but there were cargoes moving toward Asia a few weeks ago. Thus, arbitrage to Asia remained open on paper. Mixed xylene prices also fell week on week.
US spot paraxylene fell US$3 a ton FOB USG while mixed xylene fell US cents 3 per gallon FOB USG for February and March.
In Europe, paraxylene contract price for February settled down on the week while spot fell in line with Asian numbers.
Spot paraxylene prices were down US$5 a ton FOB Rotterdam while February contract price was initially settled at Euro680 a ton, down Euro20 on the month.
Courtesy: Weekly PriceWatch Report
