- Asian X is down $7-8/mt day- RIL turnaround is still unconfirmed



Asian paraxylene was down $7-8/mt to $1,066-1,100/mt
CFR unv1/China Sept. 6. After
the dramatic rise on Sept. 5, the market crashed as PTA futures on China’s
Zhengzhou Commodities Exchange adjusted lower each day. The January 2023 contract dropped to Yuan 5,696-6,000/mt
during the ZCE's first two trading sessions. This is a decrease of 1.01% per
day or $7.28-8.50/mt dollar parity terms. The
C&F Japan naphtha marker climbed day on day to $674.75-700.50/mt on Sept. 6,
from $666.25-680.50/mt. This resulted in a narrower PXX-naphtha spread. From $406.75-420.50/mt on day one, the PX-naphtha spread
narrowed down to $391.25-410.50/mt. Although
the company could not confirm this, the Asian market was discussing Vietnam's
Nghi Son refinery being closed for a week-long turnaround. The company has not confirmed the...