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Global O-Xylene prices stay stable last week
23
Nov '12
O-Xylene prices which were hovering around US$ 1465/ton FOB Korea earlier this month, witnessed a marginal decline of 0.3% w-o-w in the week ending November 17, due to sluggish downstream demand.

Prices showed an upward trend in Korea since mid-August this year and increased by 1–2% in the second half of the same month. Prices continued the upward trend in the month of September as well and saw a hike of 0.7–3.3% w-o-w.

Prices declined slightly by 0.3–1% in the initial days of October due to dull regional buying interest but again went up in the second half of the same month by 0.4–1.4% on account of improved buying activity in the downstream market.

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$ 1480/ton slightly lower as compared to the same period of its previous week. Prices were spotted steady during the week at US$ 1480/ton CFR S.E. Asia.

In Europe, O-Xylene prices showed similar trend as Asia and prices were assessed stable during the week at US$ 1365/ton FOB Rotterdam, slightly lower as compared to the previous week.

In US, contract prices of O-Xylene for November settled at 63.75 cents/lb (US$ 1405/ton) lower by 3.25 cents/lb, 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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