Asian Paraxylene: Fall $8/mt based on subdued- Awaited Increase
in Orders- China's
Shenghong reopens PTA plants following turnaroundAsian paraxylene fell $8/mt to $1,023.50/mt
CFR Taiwan/China on March 10. On
March 10, the Asian paraxylene Market on Close (or MOC) assessment saw bids and
offers from buyers for April and May cargoes. However, no trades were reported. A MOC offer was made for an April/May intermonth spread. Although inventories of finished goods and polyester
products in China were slightly lower than elsewhere, the main focus is still
on the order books. Asian
Petrochemicalscan March 10, 2002, 202. 7
China's downstream demand is still recovering, but a large increase in finished
goods inventories is not a problem for now. A trader in China stated that this
is not a concern. The trader said that
inventories for certain products, such as partially...