March price paraxylene Asia
The March contract price of paraxylene in Asia is nominated at USD1,190-1,200 per tonne
MOSCOW – The contract price of para-xylene in Asia for March deliveries was nominated at USD1,190-1,200 per tonne, market sources told ICIS on Tuesday.
For example, South Korean S-Oil, SK Global Chemical and Japanese JXTG Nippon Oil & energy announced their March contract prices for material at USD1,200 per tonne, CFR Asia.
Meanwhile, ExxonMobil announced its March contract price for para-xylene at USD1,190 per ton, CFR Asia.
The February contract price of paraxylene in the region was set at USD1,050 per tonne, CFR Asia.
Paraxylene is used as a raw material for the synthesis of terephthalic acid (TPA), an intermediate product for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , a period of price stability continues on the Russian spot PET market. Expected to maintain current spot prices until the end of the month. The demand for material is low. There is a high probability that prices for spot buyers will not rise significantly until the end of the first quarter. The prerequisites for this are the creation of stable PET prices in foreign markets and the relative stability of the ruble exchange rate.
Author: Margarita Volkova