Paraxylene prices firmed up in the week ended 12 June but fluctuated week end on sluggish crude oil markets and weakening aromatics values. Asian markers, the FOB Korea and CFR Taiwan/China, rose US$22 on the week, but fell US$9 on 12 June.
In Europe paraxylene spot gained on firmer crude oil while June European contract price remained unchanged from May leaving spot prices at a 15 per cent discount. During the week, price gained US$22 a ton FOB ARA. June contract price rolled over at Euro880 a ton equating just under US$990 a ton.
US paraxylene spot tracked higher Asia markets while the spread between mixed xylene and paraxylene remained negative. Demand was slow to pick up despite downstream improvement. Mixed xylene values that were more expensive than spot prices kept refinery extractions absent, ultimately keeping supply tight. Spot paraxylene assessments rose US$20 a ton FOB USG week on week, while mixed xylene values were at US cent 341.51 per gallon.
Courtesy: Weekly PriceWatch Report
