Asian paraxylene prices rose US$12.17 a ton FOB Korea in the third week of March while it was up US$13.50 a ton CFR Taiwan/China on the week. Isomer-grade mixed xylenes was assessed at US$661 a ton FOB Korea and US$691 a ton CFR Taiwan.
Paraxylene prices move up in Asian markets but flipped into backwardation weekend on new PTA plant starts up in China and upstream crude ruling above US$40 a barrel. Mixed xylene markets stayed flat amid quiet activity, as isomer-grade was assessed unchanged weekend amid thin discussions.
In US, spot paraxylene price gained further on Asian rise while downstream demand is expected to firm. However, market activity remained limited. US spot paraxylene gained US$15 a ton FOB USG during the week, rising behind Asia.
In Europe, mixed xylene spot fell on the week, but paraxylene and orthoxylene saw gains. South Korea has reportedly stepped PTA supplies to Europe, as the region was net importer of xylene in January. Spot paraxylene prices were up US$12.50 a ton FOB Rotterdam on the week while mixed xylene spot price was assessed at US$581 a ton FOB ARA.
Courtesy: Weekly PriceWatch Report
