- Operating rates of PX plants moving higher- Middle East producers concentrate on gasoline



As downstream demand continues to be
capped, Asian paraxylene prices trended lower March 2. Asian paraxylene prices
dropped $4.67/mt to $1,026.50/mt CFR unv1/China March 2. Chinese polyester plants are experiencing higher operating
rates, but downstream demand is still very limited. Some sources claimed that the operating rates of polyester
plants reached 86%. A trader from China
stated that there are high expectations that the Purified Terepthalic acid, or
PTA market, will perform better than in the previous month. According to a trader in China, some PTA producers are
entering a turnaround period which may slightly tighten supplies. The trader in China said that market participants will be
closely monitoring the availability of polyester, as an increase in inventories
could force producers to...