EU-Asia PX price spread narrows but arb remains technically open

10 January 2012 02:26  [Source: ICIS news]

SINGAPORE (ICIS)--The price spread between paraxylene (PX) prices in Europe and Asia narrowed late on Monday but the arbitrage window between the two regions remained technically open on paper.

The difference in spot PX prices between the two regions stood at $176/tonne (€137/tonne) on 9 January down from $199/tonne on 6 January.

PX prices in Europe were assessed at $1,400-1,410/tonne FOB (free on board) Rotterdam (Rdam) while Asian prices stood at $1,577-1,585/tonne CFR (cost and freight) Taiwan and/or China Main Port (CMP).

Freight costs for a 10,000 tonnes shipment was last heard hovering in the high-$80s/tonne.

Meanwhile, prices of isomer-grade xylene (IX) in the US firmed on Monday on the back of tight supply.

The US-Asia IX arbitrage remained closed with US prices standing at $1,186-1,216/tonne FOB US Gulf, up $15/tonne from 6 January.

Asian IX values were assessed at $1,255-1,265/tonne FOB Korea and $1,255-1,270/tonne CFR NE (northeast) Asia with cross-Pacific freight costs for a 10,000-tonne shipment hovering around $100/tonne.

Please visit the complete ICIS plants and projects database
For more information on PX, visit
ICIS chemical intelligence


By: Bohan Loh
+65 6780 4359



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly