Asian Iso_MX: Increases $38.50-$62/mt per week with
stronger upstream- PX-MX spread narrows- Japan's
June Exports FallMixed xylene of Asian isomer grade rose $59-65/mt
over the week to $1.006-2.500/mt FOB Korea. It also rose $62-67/mt $1,009-1,040/mt
CFR Taiwan and $38.50-43.50/mt $1,006-1,040/mt China on July 29, as upstream
prices recovered. The
week saw downstream paraxylene rise from $42.34-46.50/mt to $1,120-1,160/mt in China/Taiwan, which supported MX fundamentals but also resulted in a narrower
spread of PX-MX over the week. China's
demand is increasing, but there was no confirmation of imports. The August domestic MX price in East China was around Yuan
7,750-7,800/mt. This is approximate $988-1020/mt if you consider import
parity. It suggests that import arbitrage may be closed again as FOB Korea
prices were higher than $1,000-1,030/mt as of July 29. In related news, Japan exported 74777 mt...