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Asian PX prices slide last fortnight
Dec '13
The prices of paraxylene (PX) in Asian markets fell during the last fortnight ending November 30, 2013, due to weak upstream energy value coupled with ample product availability.
In Korea, average PX price for November was US$ 1395/ton, registering a drop of 9.79 percent over average price of US$ 1545/ton registered in November 2012.
In November 2013, the average PX price in Far East Asia during the first fortnight of the month ending November 15 was US$ 1400/ton, which fell to US$ 1390/ton in the second fortnight ending November 30.
In Southeast Asia, average PX price was US$ 1405/ton during the last fortnight ending November 30, down 1.06 percent compared to the average price of US$ 1420/ton in the previous fortnight ending November 15. However, prices again showed upward trend and were assessed at US$ 1435/ton on December 5, 2013.
During November 16-30 fortnight, PX prices fell marginally in Europe due to dull buying sentiments in the region, whereas they increased in the US due to firm energy market.
In Europe, the average PX price was US$ 1300/ton in the fortnight ending November 30, down 0.38 percent from average price of US$ 1305/ton in the fortnight ending November 15.
In the US, average PX price in the last fortnight was US$ 1320/ton, showing an increase of 1.15 percent over average price of US$ 1305/ton in the previous fortnight.
Meanwhile, Sinopec has settled its PX contractual price at RMB 10,400/ton for November delivery, which represents a rise of RMB 350/ton from October contractual price.
Both ExxonMobil and S-Oil have announced their December PX contract price for Asian markets at US$ 1470/ton.

Fibre2fashion News Desk - India

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