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Global O-Xylene trends move downward in previous week
08
Nov '12
In Korea, O-Xylene prices inched down in the week ending November 3. Overall, market sentiment was dull and downstream demand was sluggish. In the initial days of the reporting week, prices were at US$ 1460/ton, slightly lower as compared to the same period of the previous week. Prices were assessed at US$ 1455-1460/ton FOB Korea.

In S.E. Asia, O-Xylene prices showed similar trend as Korea. In the early days of the last week, O-Xylene prices were at US$ 1490/ton, slightly lower as compared to the same period of its previous week. Prices were spotted during the week at US$ 1485-1490/ton CFR S.E. Asia.

CFR China prices of O-Xylene were assessed at US$ 1480/ton levels.

In Europe, O-Xylene prices showed downward trend due to sluggish support from the downstream market. Downstream market sentiment was unexciting in the region. O-Xylene prices were assessed at US$ 1370/ton, lower by US$ 10/ton as compared to its previous week. Prices were stable at US$ 1370/ton FOB Rotterdam during the week.

Initial contract prices of O-Xylene for November were settled at € 1120/ton FD NWE. This represents a decline of € 20/ton as compared to the contract prices of last month. The price decrease was attributed to lower upstream product prices, improved availability of the product and weak downstream demand.

In US, initial contract prices of O-Xylene for November were nominated at 75 cents/lb (US$ 1650/ton), higher by US$ 176/ton as compared to last month’s contract prices of 67 cents/lb FOB US. Spot export prices were assessed at 64-65 cents/lb (US$ 1408-1430/ton) FOB US.

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Fibre2fashion News Desk - India

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