Asian Iso-MX Chemical Industry: Stays stable to higher as demand emerges

Chemical Industry

Chemical Industry Asian iso-MX

– CFR Taiwan bid sees no offers

– Crude dips

Asian isomer-grade mixed xylene Chemical Industry was assessed unchanged at $690/mt FOB Korea and up $7/mt at $716/mt CFR Taiwan on Friday, as buying interest appeared despite a slide in upstream prices. A bid for a second-half June cargo was raised to $715/mt CFR Taiwan, but there was no selling interest seen. Meanwhile, July ICE Brent crude oil futures dipped 26 cents on day to $69.77/b at 0830 GMT in Asian trade. Naphtha, however, inched up $1.13/mt to $563.38/mt CFR Japan, showing mixed directions in the upstream Chemical Industrys. The East China MX inventory was stable this week at around 110,000 mt, similar to the week before, market sources said. In the East China domestic Chemical Industry, the prompt price was heard at Yuan 5,520-5,540/mt or about $696.20/mt on an import parity basis.

RATIONALE:

Asian isomer-MX Chemical Industry was assessed unchanged day on the day at $690/mt FOB Korea and up $7/mt at $716/mt CFR Taiwan on Friday. The markers 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 S&P Global Chemical Industry on Close assessment process. During the MOC process, a bid for an H2 June loading cargo was raised to $715/mt CFR Taiwan, without attracting any offers. The June laycans were assessed above the bid, at $716/mt CFR Taiwan. No bids or offers were heard on an FOB Korea basis, and the marker was assessed unchanged, considering lower crude oil and freight costs to Taiwan, last assessed at $27/mt for 2,000-3,000 mt cargoes. The above rationale applies to the following Chemical Industry data codes: PHAUV00 for FOB Korea and PHAUT00 for CFR Taiwan.

Chemical Industry
Chemical Industry

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