- The bids are greater than the offers in MOC- China market participants attend the CCF conference



Asian paraxylene was valued at $8.33-9.50/mt,
or $1,069.33-1,100.50/mt CFR unv1/China on August 10. On Aug. 10, the Market on
Close process found that there were more buyers than sellers of both September
and October cargoes. According to a market
source, September cargoes were supported even though the declaration date was
approaching. The source said that October
and September cargoes are tight due to low operating rates. Mercuria Resources offered only one October cargo, and it
did not drop in value. Prices were
trending up on August 10th due to tighter cargo supply. Participants in China were absent from the CCF conference.
This attracts participants from the polyester and downstream industries
including PX. Even paper offers and bids
were muted. A downstream...