Asian paraxylene: Increased buying interest■ China's Shanghai Petrochemical reopens the PX plant■ The
tight supply and low inventory are the keys to strengthAsian paraxylene rose $21-27/mt and $59.33-65.50/mt
over the week to $1,112.33-1,140.50/mt CFR Taiwan/China Aug. 12 and $1,092.33-1,130.50/mt
FBO Korea Aug. 12. This was due to tight fundamentals and a strong buying
appetite. It
was also in line with the upward trend in downstream purified terephthalic Acid
(PTA) markets where September futures contracts surged Yuan154-200/mt or 2.63%
on the day to Yuan 6,002-6,500/mt. Buying
activity increased during the Market on Close process on August.12. Trading focus
switched to October lay cans during the week of Aug. 7, with less liquidity for
September. PTT sold one October arrival
from Asia to GS Caltex for $1,114-1,140/ mt. The best bid and offer were $1,111-1,140/mt. Sources close to...