Asian
paraxylene: Rises $20/mt to $952.33/mt CFR Taiwan/China-
Polyester inventories decline-
PX naphtha spreadsAsian
paraxylene rose $20/mt to $952.33/mt CFR Taiwan/China Dec. 21. Bullish
sentiment was evident in Asia's paper market. January-May paper bids rose
during the afternoon and evening, while the curve was widening. May paper
was especially active. According to a source, market players are now
focusing on PX-purified Terephthalic Acid spread. This will allow May paper
prices and the curve to rise significantly. The February and March cargoes
offered were lower during the Market on Close process, but they stopped falling
at the intraday level of the February laycan. C&F Japan naphtha was $2/mt
higher at $626/mt Dec. 21. Market players are evaluating whether the
spread can maintain its current strength. The spread of PX-naphtha increased to
$326.33/mt Dec. 21 from $308.33/mt December...