Paraxylene is a refinery product primarily used as a feedstock material for producing other products such as purified terephthalic acid (PTA)
Paraxylene (PX) spot prices in Asia increased also benefiting from the strong upstream product prices.
Market sources view that post Chinese Lunar Holidays, the derivative sector prices would experience rise.
February contract prices for Asia went up by $90 to reach $990 per metric ton CFR in January.
Spot prices in the Para Xylene markets have also risen sharply reaching levels $1040 per metric ton to $1050 per metric ton CFR levelsfollowed by promissing buyer bids .
Meanwhile, contract prices settled and strong upstream energy prices, will ensure markets remain lively.
Downstream Purified Terpthalic Acid (PTA) markets (used as the main raw material for most polyester fiber) are quoted firm supporting the optimistic prices of the related products.
marketing@alchempro.com
