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PX-MX spread hits highest level
23
Aug '11
Asian paraxylene (PX) prices fell slightly by US $5 / ton to close at $1,629 / ton (FOB Korea) and $1,649 / ton (CFR Taiwan / China) on August 22. As per market reports, buyers are cautious.

Current offer of PX for September shipment declined to US $1,665 from US $1,670 / ton CFR. Downstream bids were quoted at US $1,635 / ton CFR. Since the spread between buyers and sellers was wide, no deal could be reached.

Market offers for October shipment were at US $1,660 / ton CFR, but no corresponding deals were concluded.

In addition, prices of xylene (MX) fell US $20 / ton to close at US $1,329 / ton CFR Taiwan.

PX-MX spread has hit the highest level since three and a half months, mainly due to more than 16,000 tons of heterogeneous MX has come in to the market through public bidding, which inhibits the upwardly movement of heterogeneous MX.

Fibre2fashion News Desk

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