Paraxylene prices fall in global markets last fortnight

20 Mar '14

2 min read

The prices of paraxylene (PX) decreased in global markets in the last fortnight ending March 15, 2014, compared to the previous fortnight ending February 28, 2014, due to weak downstream fundamentals.

In Korea, the average price of PX in the last fortnight was US$ 1190/ton, which is a decrease of 5.93 percent compared to the average price of $1265/ton in the previous fortnight. On a year-on-year basis, the average PX price declined last fortnight by 24.68 percent, as against the average price of $1580/ton in the corresponding fortnight of 2013. The declining trend continued and PX price was assessed at $1145/ton on March 19, 2014.

PX prices decreased in Asian markets due to poor demand trends coupled with a drop in prices of upstream energy value and ample product availability. In Far East Asia, the average PX price in the last fortnight was $1190/ton, showing a decrease of 4.03 percent compared to the previous fortnight’s average price of $1240/ton.

In Southeast Asia, the average price of PX dropped by 3.95 percent last fortnight to $1215/ton, as against the previous fortnight’s average price of $1265/ton. The downtrend continued this week and PX price was assessed at $1170/ton on March 19.

In Europe, the average price of PX dipped 0.85 percent to $1170/ton in the last fortnight compared to the average price of $1180/ton in the previous fortnight, due to sluggish buying activities in the region.

In the US market, PX price declined last fortnight due to weak downstream demand. The average price in the last fortnight was $1220/ton, which is a fall of 0.41 percent compared to the previous fortnight’s average price of $1225/ton.

Fibre2fashion News Desk - India

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