- Three trades during MOC- A positive undertone to
post-holiday demands





On Jan. 3, the Asian paraxylene market was
bullish as participants focused on reviving buying interest after holidays. Three trades were executed in March's Market on
Close evaluation. There were no outright offers for the February
and March laycans. Participants expect paraxylene demand will
rebound following the Lunar New Year. Positive
sentiment in the physical market partially drove paraxylene derivatives markets. Participants
were currently working on quarterly spreads such as the first quarter contract
and the paraxylene–naphtha spread. Chartering costs are a major factor
in paraxylene producers' margins. However, high freight rates indicate that
chartering costs will be an issue. The fire at Indorama Ventures
purified terephthalic acids plant in Spain on Jan. 1 was quickly extinguished. 3 citing a
company statement. The plant in Cadiz can produce...