- Polyester inventories decline- PX naphtha spreads



Asian paraxylene rose $20/mt to $952.33/mt
CFR unv1/China Dec. 21. Bullish
sentiment was evident in Asia's paper market. January-May paper bids rose
during the afternoon and evening, while the curve was widening. May paper was especially active. According to a source, market players are now focusing on
PX-purified Terephthalic Acid spread. This will allow May paper prices and the
curve to rise significantly. The February
and March cargoes offered were lower during the Market on Close process, but
they stopped falling at the intraday level of the February laycan. C&F Japan naphtha was $2/mt higher at $626/mt Dec. 21. Market players are evaluating whether the spread can
maintain its current strength. The spread of PX-naphtha increased to $326.33/mt
Dec. 21 from $308.33/mt December 20. Sources
indicated that the overall market...