Asian
Orthoxylene : As Asia's supply is tightening, Europe offers higher prices-
Supply tightness is achieved by reducing PX operations-
China market supply tight, despite low demandDue
to tight supply, Asian orthoxylene prices increased week-on-week Feb.
24, According to market sources, Asian refineries were focusing their
gasoline production on the better margins. This was leading to a decrease in OX
production, which is a smaller byproduct from the paraxylene production
process. There was not much South Korean cargo available on the
ground. Spot cargo offers for April loading were possible at FOB Korea
isomer mixed xylenes plus $160/mt. A source said that the range of offers
could increase depending on market prices. According to market sources,
China's Phthalic Anhydride producers were working with small production
margins. They had a Yuan 200/mt spread of domestic OX. According...