Asian Paraxylene: Prices Rise to $60-65/mt Week on Tight
Supply, Strong Crude■ The PX-naphtha ranges from $21.5-27.5/mt to Week■ Mixed sentiments in downstream PTA, polyester marketThe Asian paraxylene market prices rose on
Oct. 7, despite falling feedstock naphtha prices. However, crude oil prices
remained strong. At
8:30 GMT Oct. 7, December ICE Brent crude futures increased to $94.64/b, up
from $93.43/b the previous session. Asian
paraxylene rose by $2/mt and $60/mt over the week to $1.124/mt CFR Taiwan/
China Oct. 7 and $1.104/mt FOB South Korea October 7, outpacing the rise in naphtha. The spread of paraxylene-naphtha increased to $427.50/mt, an
increase of $21.5/mt over the week. This brings the month-to-date average to
$406.30/mt. Sources said that the spread
was due to continuing tight supply as China's new capacity was expected to be
delayed. The PX-MX spread...