Rises $4/mt in line with PX

Asian isomer-grade mixed xylene rose $4/mt from last Tuesday to $671/mt FOBKorea and $688/mt CFR Taiwan Tuesday tracking firmness both up and downstream. Asian paraxylene rose $4/mt over the same period to $1,105/mt CFR Taiwan/China, while April ICE Brent crude oil futures rose 45 cents/b to $61.93/b at 0830 GMT. The MX market was largely quiet Tuesday until bids for March FOB Korea cargoes were heard during the CSG Market on Close assessment process. No offers were heard to counter. As the Chinese market returned from last week’s holidays, the East China ex-tank price of isomer-MX was heard around Yuan 5,350-5,450/mt, equating to $663.70/mt on an import parity basis, according to a trade source in East China.

RATIONALE:

Isomer-MX was assessed up $4/mt from last Tuesday to $671/mt FOB Korea and $688/mt CFR Taiwan Tuesday. The markers take the average of the third and fourth half-month laycans, currently H1 March and H2 March. No bids or offers were registered during the CSG Market on Close assessment process. During the MOC process, March loading cargo was heard bid at $671/mt FOB Korea. Both H1 and H2 March laycans were assessed at $672/mt FOB Korea, above the bid. No bids or offers were heard during the MOC process on a CFR Taiwan basis. The CFR Taiwan price was assessed $4/mt higher tracking the FOB Korea marker and rising prices in related markets. The above rationale applies to the following market data codes: PHAUV00 for FOB Korea and PHAUT00 for CFR Taiwan.

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