- PXX-MX spread flips to negative- China’s Sanfangxiang restarts the PTA plant





Asian paraxylene saw pricing support from rallies
in the energy sector on June 27, but short-term bullishness remains on tight
supply. Paraxylene rose $17-23/mt between
June 24 and $1,266.83-1,280.50/mt CFR Unv1/China, and $1,246.83-1,280.50/mt FBO
Korea June 27. August ICE Brent crude oil futures increased
$2.80-3.50/b by last Asia to $113.40-130.50/b 0830 GMT June 27, while feedstock
Naphtha C+F Japan rose $6-7/mt to $824.50-850.50/mt during the same period. Similar
upward trends were observed in the isomer-MX markets where the FOB Korea marker
rose $24-30/mt between June 24 and $1,273-1,300/mt on June 27, pushing down the
PX-MX margin. Although August-loading cargoes from the US were
receiving less interest, it was reported that there was still limited supply
due to plant outages in Southeast Asia. According...