– PX slides $2.75/mt
– Freight considered in CFR Taiwan dealings
Asian isomer-grade blended xylene costs drooped $6/mt day on day at $688/mt FOB Korea and down $4.50/mt at $710.50/mt CFR Taiwan Wednesday in the midst of lower costs upstream and downstream (Chemical Industry).
Offers for both H2 December and January stacking FOB Korea cargoes rose in the market, with no purchasing premium heard.
In related markets, January ICE Brent unrefined petroleum fates fell $1.74/b to $60.57/b starting at 0830 GMT in Asian exchange Wednesday. In the interim, paraxylene likewise debilitated by $2.75/mt on day to $783.42/mt CFR Taiwan/China (Chemical Industry).
Considering the probability of rising cargo rates because of the International Maritime Organization’s 0.5% sulfur top on marine fills from January 2020, the area spread between CFR Taiwan and FOB Korea was surveyed more extensive by $1/mt for January at $23/mt, versus $22/mt for December cargoes (Chemical Industry). Charterers are expecting cargo rates to increment moving into January, with gauges heard generally in the scope of 10%-20%, and some higher, S&P Global Platts revealed before. This has likewise been a factor in CFR Taiwan contract arrangements for isomer-MX term contracts for 2020, showcase sources said.
Offers in the agreement exchanges were heard at a similar settlement level with respect to 2019, at a markdown of $9/mt to the Platts CFR Taiwan evaluations, versus offers at a rebate of $2-$4/mt, one market source said (Chemical Industry).