Asian Iso-MX Chemical Industry: Slides $7/mt on offers, lower bids as China returns

Chemical Industry

Chemical Industry news of Asian Iso-MX

– Crude, PX weakens

– East China domestic price dips

Asian isomer-grade mixed xylene prices slipped $7/mt from Tuesday to $690/mt FOB Korea and $709/mt CFR Taiwan on Tuesday. Prices slipped as the MX Chemical Industry still seemed bearish amid lower upstream and downstream prices. July ICE Brent crude oil futures fell 41 cents to $69.78/barrel at 0830 GMT in Asian trade Tuesday, and downstream paraxylene prices were also seen under pressure. China Chemical Industry has returned on Tuesday after last week’s holoday, and the June CFR China bids were heard to have dropped before the holidays, which started May 1. A trader said June bids were now around $700/mt CFR China. The prompt domestic price of isomer-MX in East China Chemical Industry slipped Yuan 60 from April 30 to Yuan 5,570-5,590/mt on Tuesday, or about $706.60/mt

RATIONALE:

Asian isomer-MX was assessed down $7/mt from Tuesday at $690/mt FOB Korea and at $709/mt CFR Taiwan on Tuesday. The Chemical Industry take the average of the third and fourth half-month laycans, currently the two June half-months. No bids or offers were registered during the Chemical Industry on Close assessment process. During the MOC process, an offer for June loading cargo was heard lowered to $692/mt FOB Korea, without atttacting any bids. The June laycans were assessed below the offer, at $690/mt FOB Korea. No bids or offers were heard on a CFR Taiwan basis, but the marker was assessed down in line with the FOB Korea Chemical Industry. The above rationale applies to the following market data codes: PHAUV00 for FOB Korea and PHAUT00 for CFR Taiwan.

 

Chemical Industry
Chemical Industry

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