Solvent mixed xylene noticed lower

Solvent-grade mixed xylene was assessed $10/mt lower week on week on Friday at $610/mt FOB Korea on lower selling ideas, while demand — particularly from China — remained sluggish due to the Lunar New Year holidays. Many market participants were already absent from the market. Meanwhile, South Korean parcels were moving into Southeast Asia, where margins were better than China, market sources said. In plant news, Korea Petrochemical Industry Co. plans to shut its benzene-toluene-xylene plant in Onsan for about one month of maintenance in April, a market source said. The plant has the capacity to produce 180,000 mt/year of benzene, 70,000 mt/ year of toluene and 40,000 mt/year of solvent-grade mixed xylene. South Korea’s LG Chem is planning to shut its Daesan aromatics plant for 35 days of maintenance in March, a source close to the company said. The plant can produce 24,000 mt/year of solvent-grade mixed xylene, along with 264,000 mt/year of benzene and 54,000 mt/year of toluene. Maintenance at the plant will overlap with the turnaround at the upstream cracker, as previously reported by  . MX inventories in eastern China were heard to be steady at around 61,000 mt. Rationale Solvent-MX was assessed down $10/mt week on week at $600/mt FOB Korea Friday on the back of lower discussions. A deal at $625/ mt FOB Korea was not considered in the assessment as the size was too small. Another producer said $590/mt FOB Northeast Asia might be a workable price, although similarly acknowledged it was not a firm offer. No bids or offers were heard during the  Market on Close assessment process. The CFR China marker was assessed at $620/ mt, unchanged on thin trade and prevailing discussions. The Southeast Asia marker was assessed at $660/mt CFR, reflecting decreases in the broader market. The CFR India marker was assessed at $664/ mt, down $10/mt, based on the freight differential of $64/mt between Korea and India.

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