Asia isomer grade xylene hits 30-month low

10 October 2008 07:15  [Source: ICIS news]

SINGAPORE (ICIS news)—Asia’s isomer grade xylene values fell to it lowest levels since March 2006 on the back of declining crude values and persisting weakness in the downstream paraxylene (PX) segment, said producers and end-users.

 

Prices were assessed at $780-800/tonne FOB (free on board) Korea and $790-810/tonne CFR NE Asia at the close of Thursday’s trades, according to global chemical intelligence service ICIS pricing.

 

A further dip in Thursday’s values looked imminent as notional buying ideas surfaced at $750/tonne CFR Ulsan, reflecting the weak buying sentiment.

 

Due to the global financial crisis and a poor polyester market outlook, demand is decreasing, said a key end-user.

 

Isomer grade xylene values in Asia have been on a steady decline and have plummeted by $350-360/tonne or 30-31% since the week ended 29 August.

 

For more on aromatics visit ICIS chemical intelligence

To discuss how the financial crisis is affecting the chemicals industry visit this thread on ICIS connect

By: Mahua Chakravarty
+65 6780 4359

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