Prices of paraxylene in Asia decreased by USD49 per tonne – Paraxylene Prices Asia - Arhive
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Prices of paraxylene in Asia decreased by USD49 per tonne
MOSCOW- Prices for paraxylene in Asia fell by USD49 per tonne compared to its annual maximum, which was observed in mid-May, ICIS reports.
Paraxylene prices have largely declined due to lower oil prices and refined terephthalic acid (TPA). According to market participants, sales in the polyester markets began to decline by the end of May, which also weakened the buying mood of market participants.
Moreover, additional supplies from new paraxylene production facilities from Saudi Arabia and Vietnam and the resumption of the production of Fuhaichuang Petrochemical paraxylene have put downward pressure on prices.
Paraxylene is one of the main raw materials for the production of polyethylene terephthalate (PET).
According to the Price Review of ICIS-MRC , the tension in the Russian PET-granulate market continues to increase. It is expected that in June material prices will reach maximum levels and the shortage of free volumes will be further exacerbated. From the middle of July, a break in the current trend and the beginning of the process of returning the market to a balance situation.
Author: Anna Larionova
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