Asian paraxylene markers were up US$19.83 a ton FOB Korea in the second week of June while CFR Taiwan/China gained US$20.50 a ton. Isomer-grade mixed xylenes also rose during the week.
Paraxylene prices in Asian markets moved in line with oil prices, surging day on day throughout the week only to fall back on weekend seeing crude declining on last two days of the week.
Reportedly, G20 summit impacted China paraxylene market to some extend while Dragon Boat holidays curtailed trading activity.
In US, spot continued to rise behind Asia as it remained major export destination. Production economics were better, but unattractive. US spot paraxylene rose US$25 a ton FOB USG on the week.
European paraxylene prices although gained on the week saw edging down week end on as oil complex turned bearish. Contract price settlement was done at an increase over the month. European spot was up US$20.50 a ton while an initial contract price was settled up Euro 5 a ton FD NWE on the month.
Courtesy: Weekly PriceWatch Report
