Paraxylene prices in Asia rose – The spot prices of paraxylene in Asia rose amid the growth in the market of terephthalic acid (TPA) – Paraxylene prices Asia - Arhive
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Paraxylene prices in Asia rose
MOSCOW – The spot prices of paraxylene in Asia rose amid the growth in the market of terephthalic acid (TPA), ICIS reports with reference to market participants.
Spot prices in Asia on April 17 rose by USD30 per tonne to USD958-960 per tonne, CFR Taiwan and / or China’s main ports (CMP). The deal for the June deliveries was concluded at the level of USD959 per tonne, CFR Taiwan and / or the Chinese main ports (CMP).
Futures on TFC for May contracts rose by 0.8% on April 17. In addition, high demand in the market for polyester raw materials, increased the confidence of players in the paraxylene sector, market participants say. According to them, the average sales-to-production ratio in the polyester sectors was 120%.
According to several market participants, a possible closure for the repair of JXTG Nippon Oil & Energy at its plant in Kawasaki also contributed to the growth of spot prices for paraxylene. The company operates a paraxylene plant with a capacity of 350,000 tons per year.
Paraxylene is a raw material for the synthesis of terephthalic acid – a semi-product for the production of polyethylene terephthalate (PET).
According to the ScanPlast of the Market Report company, in February 2018, the growth in the volumes of Russian PET supplies to foreign markets continued. During the reporting period, 7,36 thousand tons of granulated material was shipped from Russia, which is 92% higher than last year’s figure. In the first two months of 2018, the total export of PET granulate from Russia amounted to 13.6 thousand tons against 6.66 thousand tons last year. The volume of exports is entirely attributable to Alco-Nafta granules. Imported supplies of PET to the Russian market in February decreased by 31% and amounted to 5.71 thousand tons. A year earlier, this figure was at the level of 8 thousand tons.
mrcplast.ru
Author: Anna Larionova
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