China Sinopec June paraxylene contract price - Arhive

State-owned China Petroleum and Chemical Corp, or Sinopec, has settled its June paraxylene contract price at Yuan 7,460/mt, equating to about $974.40/mt on an import parity basis, sources close to the matter said Friday.

The June settlement is down Yuan 290/mt from the May settlement.

The lower settlement price reflects falls in the Platts CFR Taiwan/China marker as well, with the marker last assessed at $946.67/mt on June 21, the lowest since April 9, coinciding with the onset of a gradual lengthening of supply in what some traders have described as “slowly becoming a buyer’s market.”

–Rohan Menon, rohan.menon@spglobal.com

–Edited by Irene Tang, irene.tang@spglobal.com

China Sinopec June paraxylene contract price

Related Topics

-China’s Hengli aims to start first PX line in Nov, after refinery starts – China’s Hengli Petrochemical plans to start test runs at one of its two new paraxylene production lines in Dalian, Liaoning province, in November – China Hengli PX line

-Asian PX-MX spread hits 8-month low amid firm isomer-MX, sluggish PX – The spread between paraxylene and feedstock isomer-grade mixed xylene in Asia has reached its lowest level in eight months due to increased demand for MX for gasoline blending and sluggish PX demand – Asian PX MX spread sluggish PX

-ExxonMobil announced the May contract price of paraxylene at USD1,030 per tonne – ExxonMobil May contract price paraxylene