China's domestic market
remains weak Crude, PX dips



After falling sharply, the
previous day, Asian isomer-grade mixed xylene fell $1.50/mt on the day at $1,040-1,060/mt
FOB Korea and $1,064.50/mt CFI Taiwan. This
small price drop was in line with downstream paraxylene which fell $1-2/mt to
$1,145-1,185/mt CFR Taiwan/China. Domestic
prices in China remained much lower than international prices. The May price in
East China was heard at Yuan 7,350-7,370/mt or approximately $960-990/mt if you
consider imports parity. According to a
Chinese trader, "the market remains very weak." In downstream news, China’s Jiangsu Sanfangxiang Group Co.
Ltd closed its Jianyin 1.25 million mt/year purified Terephthalic Acid plant
for scheduled maintenance on April 26. According
to market sources, the maintenance should last at most 15 days. The company was unable to confirm the plant's restart. China's market sentiment was...