Asian paraxylene prices fell US$29.33 a ton FOB Korea and CFR Taiwan/China in the first week of May.
Paraxylene prices in Asian market tumbled weekend and on the week on sliding downstream PTA futures. Meanwhile Hanbang improved run rate of its new PTA line, which expanded supply amid weak demand. Isomer, mixed xylene prices also declined due to weak up and downstream sectors.
In US, paraxylene spot dipped following Asian movement since the region remains attractive destination for export. The spread between mixed xylene and paraxylene narrowed down amid oversupply. US spot paraxylene fell US$25 a ton FOB USG on the week.
European paraxylene spot also tracked Asian fall while mixed xylene decline on weak gasoline as gasoline blending demand remained tepid. May contract prices was settled flat from April. European spot price of paraxylene fell US$30.50 a ton while mixed xylene fell US$30 a ton FOB ARA.
Courtesy: Weekly PriceWatch Report
