Asian Iso-MX: Remains directionless in thin trade

– S Korea Feb exports rise sharply

– PX slides $9.50/mt

Asian isomer-grade mixed xylene was stable again day on day at $652/mt FOB Korea and $673/mt CFR Taiwan Thursday in thin trading. Movements in related markets were mostly lower with April ICE Brent crude oil futures down 4 cents to $66.88/b at 0830 GMT in Asian trade, while paraxylene fell $9.50/mt to $1,109.17/mt CFR Taiwan/China. In related news, South Korean exports of isomer-MX surged month on month with a 178.7% spike in February to 60,524 mt, customs data released this week shows. The largest buyer was Taiwan at 30,568 mt, followed by India at 9,837 mt and China at 8,865 mt. Year-on-year, the exports rose by 18%. Other major export destinations in February were Malaysia and Thailand.

RATIONALE:

Isomer-MX was assessed unchanged day on day at $652/mt FOB Korea and $673/mt CFR Taiwan Thursday. The markers take the average of the third and fourth half-month laycans, currently H1 and H2 April. No bids or offers were registered during the  Market on Close assessment process. No bids or offers were heard earlier in the day and prices in upstream markets were relatively stable. The above rationale applies to the following market data codes: PHAUV00 for FOB Korea and PHAUT00 for CFR Taiwan.

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