- Operating rates to remain high- PX Supplies to Remain Tight



Sources claim that prices for Asian
paraxylene increased on June 16, due to tighter supplies and higher operating
rates at polyester plants. 
That Asian paraxylene was up $2.33/mt for the day, at $995.33/mt. Sources said that operating rates could remain high for the
foreseeable future, despite a weakening of domestic demand in China. A trader in China stated that exports to Southeast Asia and
Africa may be helping polyester plants. The
trader stated that exports were improving to Southeast Asian and African
countries. Traders said that PX supplies
could be limited due to disruptions and turnarounds. S&P Global Commodity Insights reported earlier that
Shenghong Petrochemical in China reduced its reformer's utilization rate
recently. This will reduce the production of benzene, and paraxylene. In Lianyungang, the...