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Asian paraxylene price continues to rise
19
Jul '11
Asian Paraxylene (PX) price continued to rise US $22 to close at US $1,447 / ton CFR Taiwan / China on July 18, due to slow rise of crude oil and benzene prices.

The rise in prices was also influenced by the shutdown of the aromatics plant under China's CNOOC Group on Monday. The plant has an annual output of 840,000 tons PX and 80,000 tons O-xylene.

It is still not clear as to when the plant will resume operations. However, traders estimate that it will take a longer time to restart the plant.

Affected by the development, market bids for Asian supplied September PX were around US $1,430/ ton CFR Taiwan / Ningbo (not including India, China and Middle East).

Offers increased to US $1,470 / ton CFR Taiwan / Ningbo. It is reported that price of cargo for arrival in September has risen to US $1425 arrival / ton CFR Taiwan / Ningbo.

Fibre2fashion News Desk - China

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