Asian paraxylene fell US$21 a ton CFR Taiwan/China and FOB Korea in the second week of September. Isomer-grade mixed xylene declined US$12 a ton FOB Korea on the week.
Paraxylene prices declined sharply back to 8 weeks low as market activity was thin amid holidays in key Asian markets. This also pulled down the paraxylene-naphtha spread further below US$400 a ton mark. Isomer-grade mixed xylene also slumped week on week.
In Europe, paraxylene spot dropped below US$700 a ton mark as weak arbitrage demand takes toll while xylene prices ended the week on a mixed note as the energy complex was rapidly losing value. Paraxylene prices dropped US$17.50 a ton while outright mixed xylene rose US$4 a ton on stronger bid.
In US, spot paraxylene followed Asia fall while downstream demand from PET was weak amid expected improvement in supply. US spot paraxylene fell US$15 a ton FOB USG. Mixed xylene pricing for September fell US cents 2 per gallon FOB USG during the week.
Courtesy: Weekly PriceWatch Report
