Paraxylene prices
increased by $13/mt week on week and $3/mt on day to day basis in Asian market,
to be evaluated at $866/mt FOB Korea and $886/mt CFR China Friday(as on 25/01/2017).Naphtha
noticed up $5/mt day on day to $513/mt CFR Japan upstream of paraxylene, while
March ICE Brent crude futures declined 23 cents to $55/b as on Friday. The
PX-naphtha spread widened by $21/mt to $373/mt on Friday, the assessment was
done week on week. Strong gasoline market had supported Paraxylene prices and its feedstock, traders said. While other said
that Paraxylene was now looking lower priced in comparison to co-product
benzene. Paraxylene prices generally
calculated above benzene, but recently that
has changed and on Friday the spread was noticed at minus $92/mt, where FOB
Korea benzene calculated at $979/mt. There have been many maintenance shutdowns
scheduled for PX plants in Asia in the second quarter of this year. On
Wednesday this week, state-owned China Petroleum and Chemical Corp., or
Sinopec, settled its January Para xylene
contract price at Yuan 7,110/mt, hiked by Yuan 240/mt from December, source said. The
price is equivalent to about $864/mt on an import parity basis, based on an
exchange rate of 6.8RMB. January was initially nominated at Yuan 7,200/mt.
In secondary news, South Korea exported 610,910 mt of PX in December, up 13.7% month on month, but down 3.2% from a year earlier, customs data released Monday showed. South Korea’s total PX exports in 2016 were 6,434,835 mt, up 9.7% year on year.
Bids and Offers: Asian Paraxylene prices noticed up $3/mt day on day at $866/mt FOB Korea and $886/mt CFR Taiwan/China Friday. The markers take the average of the third, fourth and fifth half-month forward laycans, currently H2 February, H1 March and H2 March.During Market Close assessment process, a March cargo traded at $887/mt CFR Taiwan/Ningbo/Dalian for Asia origin.The H1 and H2 March laycans were assessed at $887/mt, at the deal level. No bids or offers were seen for H2 February. H2 February Paraxylene prices was calculated at $883/mt CFR Taiwan/China, maintaining the contango to March at $4/mt, unchanged day on day.
For Daily chemical report ,kindly call or Whatsapp at- 9599622045.
In secondary news, South Korea exported 610,910 mt of PX in December, up 13.7% month on month, but down 3.2% from a year earlier, customs data released Monday showed. South Korea’s total PX exports in 2016 were 6,434,835 mt, up 9.7% year on year.
Bids and Offers: Asian Paraxylene prices noticed up $3/mt day on day at $866/mt FOB Korea and $886/mt CFR Taiwan/China Friday. The markers take the average of the third, fourth and fifth half-month forward laycans, currently H2 February, H1 March and H2 March.During Market Close assessment process, a March cargo traded at $887/mt CFR Taiwan/Ningbo/Dalian for Asia origin.The H1 and H2 March laycans were assessed at $887/mt, at the deal level. No bids or offers were seen for H2 February. H2 February Paraxylene prices was calculated at $883/mt CFR Taiwan/China, maintaining the contango to March at $4/mt, unchanged day on day.
For Daily chemical report ,kindly call or Whatsapp at- 9599622045.
