- October trades at $1,063-1,100/mt- China's Polyester Runs inch Up



Asian paraxylene fell $17-23/mt to
$1,063.33-1,100.50/mt CFR China Aug. 1, and at $1,043.33-1,070.50/mt FoB Korea
Aug. 4, due to weakness in the energy sector. October ICE Brent crude
oil futures dropped $2.65/b to $96.83-100.50/b by 0830 GMT Asian closing. This
was due to bearish US oil data as well as increased supply from OPEC+, sending
oil prices plunging. Participants took a
cautious stance amid upstream volatility. However, trade momentum rallied
during August's Market on Close process. Hengli Petrochemical International
sold one Asia -origin October shipment
at $1,063-1,100/mt GS Caltex. However,
downstream sentiment remains bearish. One source said that there may be some
hope for September as winter demand returns. The polyester market was seeing a pickup in stocking
activity, although some sources suggested that the...