- China's domestic prices rise on tight inventory levels- Traders cautious over
volatile upstream





Asian toluene at $976-1000/mt FOB Korea.
This was in line with other markets and quiet trading. Market participants closely monitored upstream
markets. Upstream ICE Brent futures increased 60 cents/b between Sept. 2 and
$95.52-100.50/b Sept. 5. Paraxylene downstream was valued at
$36.33-41.50/mt at $1.073-2.500/mt CFRUnv1/China and $1.053-2.500/mt FOB Korea
Sept. 5. Yuan 75/mt was assessed in China at Yuan
7,870/mt. This equates to $987.31-1000.50/mt if you consider import-parity. A few market
sources reported that FOB China levels ranged from $1,020-$1,050/mt to
accommodate cargoes arriving in September. However, tight inventories will
likely keep FOB levels firm. Some cargoes of China origin were
being offered to India or Southeast Asia on a CFR basis. The overall
price netbacks were still limited by high freight...