- July/Aug Structure turns steady- The PX naphtha spread is below $500-530/mt



Asian paraxylene fell $51-57/mt to $1,287-1,300/mt
CFR Taiwan/China on June 15, and $1,267-1,300/mt FBO Korea on June 15. This was
due to weakness in both downstream and feedstock markets. C+F Japan naphtha dropped
$17-22/mt to $791 upstream. 12/mt, pushing
the paraxylene/naphtha spread down to $495.87-520.50/mt, $34-40/mt lower than
the previous session. In line with the
trend, Asian isomer MX prices suffered losses on June 15, falling $32-37/mt to $1,299.50-1,340.50/mt
FOB Korea, at $1,249.50-1,280.50/mt CFR Taiwan, at $1,249-1,280. Paraxylene-MX margins have not seen much improvement and
non-integrated producers continue to be under pressure due to high feedstock
costs. A few participants stated that the
recent plunge in paraxylene could have been expected because of the steep
backwardation structure from July to August earlier. The July/August...