Paraxylene market trends reveal that FOB Korea closed at US $915-925 / ton on June 9, up $10 from last week. CFR China closed at $930-940 / ton, also up $10 from the previous week.
Regional traders are looking for guidelines from fluctuations of crude oil futures and some traders have suspended bids, because they expect energy prices will go further higher, so they will re-enter the market when prices shoot up.
Some market sources say that major companies in South Korea refused to cut production in June, due to which, Asian Paraxylene market will be oversupplied in the near future.
Fibre2fashion News Desk - China
marketing@alchempro.com
