Asian
Paraxylene: Increases $17.67-22.75/mt due to demand optimism- China
adds more capacity to increase prices and margins- Taiwanese
PX demand likely to rebound after Q2Asian
paraxylene rose $17.67/mt to $1,010/mt CFR Taiwan/China Jan. 13 as market
participants believed that there would be an improvement in demand after the
Lunar New Year holiday. The downstream Asian paraxylene industry will see
prices and margins rise as more Chinese Purified Terephthalic Acid (or PTA)
plants emerge. A trader from Southeast Asia stated that many new PTA
plants would start this year. Therefore, the PX market will be very
important. Sources said that China's demand outlook continues to improve
after the lifting of pandemic-related restrictions. This means there is more
potential for refining capacity to be built. Sources said that prices and
margins will suffer as more PTA plants continue...