Asian paraxylene prices jumped US$13 a ton CFR Taiwan/China in the first week of August while FOB Korea also rose US$13 a ton on the week. Isomer-grade mixed xylene prices gained US$16 a ton FOB Korea. Paraxylene prices in Asia edged down on Friday but gained on the week supported by strong upstream values and higher downstream negotiations. India’s Reliance Industries resumed high operating rates at its new 2.25m ton per year paraxylene plant after stabilising operations at its upstream platformer. The August paraxylene Asia contract price was US$35 a ton higher from July.
In US, paraxylene market was up during the week, tracking an uptick in feedstock mixed xylenes as well as strong prices in Asia. Prompt spot paraxylene were up US$10 a ton FOB USG, while spot mixed xylenes were up US cents 1 a gallon FOB USG.
In Europe, spot paraxylene rose on strong demand while contract price was settled at an increase from July. European spot paraxylene were up US$16 a ton FOB Rotterdam while European August contract price was fully confirmed at an increase of US$5 a ton from July.
Courtesy: Weekly PriceWatch Report
