Asian paraxylene prices lost US$5.00-5.50 ton FOB Korea and CFR Taiwan/China in line with crude oil pricing in the last week of August. South Koreas SK Global Chemical cut its nomination to US$820 a ton CFR but end-users posted counterbids of US$710-730 a ton.
Paraxylene prices in Asian markets moderated on upstream weakness and poor downstream demand amid ample supply. FCFC restarted its 580,000 ton a year unit that week, and was reportedly running normal. Major suppliers revised down their September contract price nominations while isomer-grade xylene discussions declined as sentiment was dampened by losses in crude and downstream markets.
In US, paraxylene spot tracked falling Asian values while players still eyed the region for exports. The market remained very quiet with pricing range bound. US spot fell US$5 a ton FOB USG on the week
In Europe, paraxylene spot tumbled on sluggish crude pricing. Paraxylene prices fell US$16.50 a ton on the week.
Courtesy: Weekly PriceWatch Report
