Asia May prices paraxylene
In Asia, they have not reached an agreement on the May contract prices of para-xylene.
MOSCOW- The participants in the negotiation process to agree on the May contract prices of paraxylene in Asia failed to reach an agreement for the next month amid an uncertain market situation, market sources told ICIS .
According to them, the approval of the monthly contractual price of the material is achieved when it is agreed by at least two suppliers and two buyers.
The last price range, within which negotiations were conducted, was USD930-1,050 per tonne, CFR Asia, market participants said.
Nor was agreement reached on the April contract price of para-xylene.
And the March contract price of paraxylene in Asia was approved at USD1,080 per ton, which is USD280 per ton higher than the level of the previous month.
Para-xylene is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC price review , during April there were no dramatic changes in the Russian PET market. Before the beginning of the season of peak demand for granules and preforms, the market situation is calm. Asian quotes for raw materials and PET declined last week, which has a downward pressure on the cost of Russian material in the near future.
Author: Margarita Volkova