Asian Orthoxylene - CFR China increases $5-6/mt for
improvements downstream- End
users buy intent above $1,000-1,040/mt- China
PP and naphthalene price rises on weekAsian orthoxylene was flat to higher
week-on-week Aug. 19, due to the emergence of buying interest above $1,000-1,040/mt
in light of an improving Chinese phthalic acid market. PA CFR China was up $5-6/mt
to $1,020-1,060/mt. Domestic PA price was heard up Yuan300-350/mt around Yuan
7,950-8,500/mt or $960.80-990.59/mt if you use an import-parity basis. This is
likely due to higher naphthalene at Yuan 5,555-6,000/mt. According to a Chinese end-user, the Chinese market for PA
was slowing. However, imports of orthoxylene at $1,030-1,070/mt CFR China were
heard up Yuan 300-350/mt at Yuan 7,950-8,500/mt. This is compared to Yuan 9,950-10,500/mt
on an import-parity basis. However, due in part to fluctuations in exchange
rates, the...