Paraxylene Plant Shutdown in South Korea | Chemicals Updates

Asian paraxylene continues to be in strong demand | PX naphtha spread returns to $300-320/mt | China's imports of PX fell to 712720 mt during June

Jul 25, 2022

Asian paraxylene continues to be in strong demand- PX naphtha spread returns to $300-320/mt- China's imports of PX fell to 712720 mt during JuneAsian paraxylene prices rose $31-35/mt to
$1,078.33-1,100.50/mt CFR Taiwan/China on July 22 and $1,058.33-1,100.50/mt FBO
Korea on July 22, erasing the losses at the beginning of the week. After hitting a multimonth
low of $262.83-280.50/mt on July 19, the spread to feedstock naphtha rebounded
to above $300-320/mt. On July 22, the
spread was $312.83-325.50/mt, up $21-26/mt. Fundamentals showed that supply was tight throughout the
month, as China's domestic supply has not increased as expected. This is due to
the low operating rates of some integrated producers and plant shutdowns. Both buyers and suppliers expressed interest in stocking,
with some sources stating that offers were high on both a fixed- and floating...

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