Asian paraxylene - Tumbles $23-28/mt in slow demand- The
average PX-naphtha spread is $336.70-350.50/mt- Aug
PX ACP ends without settlementAsian paraxylene ended the week of July 29
with a bearish note. Market participants took a cautious approach following the
return to $370-400/mt in PX margins. CFR Taiwan/China's marker fell $23-28/mt and $42.34-48.50/mt
during the week, closing the week to July 29 on a bearish note. The monthly
average was $1,121-1,150/mt which is a plunge of $210-230/mt over the June
average. The spread between naphtha and
paraxylene fell from $12-18/mt down to $358.42-380.50/mt day-to-day. Meanwhile,
the average paraxylene/naphtha spread was $336.70-350.50/mt which is $172.338-200.50/mt
lower than the June average. The spread
narrowed in AsiaUS was expected, but some sources predicted that the spread
would fall further because of slow demand in China along its polyester chain. One...