Para xylene and Downstream remain flat – 12 Feb 2015

Asian paraxylene was assessed stable day on day at $807/mt FOB Korea and $829/mt CFR Taiwan/China as crude oil and aromatics prices were also largely stable in the lead-up to the Lunar New Year holidays next week. Feedstock isomer-grade mixed xylene was unchanged at $686/mt FOB Korea and down $1/mt to$716/mt CFR Taiwan/China as March ICE Brent crude oil futures slipped 7cents/barrel day on day to $57.62/barrel  in Asian trade.

Downstream purified terephthalic acid futures for May slumped Yuan 42/mt on the Zhengzhou Commodity Exchange to Yuan 4,718/mt Tuesday. A PX producer based in South Korea said the main factor for PX prices and direction after the Lunar New Year holidays in the second half of February would be downstream run rates at PTA and PET plants. "First half of this year there will be some scheduled turnarounds for PX and new start of two PTA plants, so I am carefully looking at the downstream demand," he said