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European M-Xylene prices move downward in Nov
30
Nov '12
M-Xylene prices witnessed downward trend in Europe since the beginning of the current month due to ample availability. In the initial days of November, prices were hovering around US$ 1310/ton FOB Rotterdam.

Prices saw a decline of 0.69%, 3.15% and 7.14% w-o-w in the second, third and fourth week of the month.  In the last week, prices were assessed at US$ 1170/ton FOB Rotterdam.

Arbitrage window to China and India was seen open in the last week. Exporters could achieve profits by shipping to Asia according to the market sources as freight cost to Asia was assessed around US$ 90-100/ton.

European exporters showed interest in exporting cargoes to India, China and Pakistan.  M-Xylene prices were assessed at around US$ 1295-1300/ton in these markets. Some cargoes are expected to arrive in Asia in January, market sources commented.

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Fibre2fashion News Desk - India

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