Para-Xylene prices moved upward in the week ending November 17, after staying stable in the first half of the current month. Prices were assessed at US$ 1475-1485/ton FOB Rotterdam.
Prices were reported in a deadlock in the initial days of the current month. Final buyers in the downstream market showed no interest in the spot market. According to the market sources, there was moderate availability of the product in the spot market and overall market sentiment was wait-and-see.
Manufacturers cut their production of P-Xylene due to weak downstream demand and hence prices rose in the last week due to tight availability. The major share of downstream demand came for exporting the product to Asia for profit.
Contract prices of P-Xylene for the month of November were settled at € 1210/ton (US$ 1548/ton) FD NWE in the last week, higher by € 20/ton as compared to October contract prices.
