December paraxylene contract Asia
December paraxylene contract offers in Asia heard at USD900-920 per tonne December paraxylene contract Asia
MOSCOW – Several buyers put forward counter proposals for the December contract price of paraxylene in Asia at USD900-920 per ton, ICIS reports, citing market participants.December paraxylene contract Asia
Price proposals for December deliveries from manufacturers were at the level of USD1,100 – 1,150 per ton, CFR Asia.
It is expected that the contract price of paraxylene for December in Asia will be agreed by the end of the working day on November 30.
Earlier it was reported that the spot prices of paraxylene on November 23 were in the range of USD1 039-1 041 per ton, CFR China / Taiwan, while the day before the quotes were USD1 075-1 077 per ton, CFR China / Taiwan.
The decrease in prices both in the crude oil market and in the downstream market for the production of purified terephthalic acid (TPA) led to a downward forecast of the market situation.
Paraxylene is a raw material for the synthesis of TPA – intermediate for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , spot prices for PET in the Russian market are gradually going down due to the expected decline in contract prices for the next month and low demand for material.
Fundamental factors that influence the global PET market remain unchanged so far – the prices of petroleum and PET raw materials continue to decline.
The cost of PET in China is continuously falling.
Author: Anna Larionova