- October cargoes tight- PTA Operators prefer to
purchase cargoes from the market





Asian paraxylene fell on Aug. 16. The
marker was assessed at $1,054-1,080/mt CFR unv1/China down $50.33-55.50/mt. Although there were no offers, several bids were
received for October cargo during the Market on Close assessment on Aug. 16. According to
market sources, October cargoes are still scarce and there is still demand in October. Mercuria Resources submitted a bid for November
cargo, but the bid fell significantly during the MOC. MOC also saw
bids from different participants being withdrawn early. Sources
claim that bidders withdrew their bids early because November prices were
dropping so fast. October buyers might not want to risk bidding at
higher levels or buying at higher prices. Also, the
October-November spread was pegged at a steep backwardation at plus $18-23/mt.
A...