Asian Orthoxylene: Increases due to higher feedstock
prices■ Strong buying appetite for FOB Korea cargoes■ MX increases $68.5-73.50/mt to $1,069-1,100/mtAsian orthoxylene rallied in Asia in the
week of October 7, mainly due to higher feedstock costs, and a tight supply. Feedstock isomer MX FOB
Korea increased $68.5/mt to $1,069/mt on Oct. 7. Most market participants waited to see if China's market
would return from holiday. However, some sources reported an increase in OX prices
due to Sinopec's plans for Yuan 300/mt price increases. One participant said, "We will not receive offers after
the holidays... but there's still demand to stock up." On a CFR China basis, tradable indications were higher this
week and ranged between $1,140/mt and above $1,200/mt in line with recent
rallies in energy complex and feedstock-isomer-MX. A few producers from Northeast Asia and South...