29 March 2012 08:20 [Source: ICIS news]
The prices have fallen by yuan (CNY) 150-200/tonne ($24-32/tonne) ex-tank Zhangjiagang, the traders added.
Solvent-grade xylene prices were at CNY9,000-9,050/tonne ex-tank Zhangjiagang on 28 March, compared to CNY9,200/tonne on 12 March, according to Chemease, an ICIS service in
Isomer-grade xylene prices were at CNY9,200-9,250/tonne ex-tank at Zhangjiagang on 28 March, compared to CNY9,350-9,400/tonne on 12 March, the data showed.
“The decline was mainly a result of an imbalance between supply and demand in the market” a trader said.
Inventory levels of both xylenes remain high at 125,000-130,000 tonnes in east
“Trade was slow as only 15,000-20,000 tonnes xylenes were consumed by the end-users in March,” a trader said.
“Market demand [for solvent-grade xylenes] is still relatively weak because [the weather] has not warmed up,” a market source said.
“IX demand fell because of shutdowns at two downstream paraxylene (PX) plants for routine maintenance, namely Shanghai Petrochemical’s 600,000 tonne/year unit in
The trader added that the falling Asian xylene prices weakened the domestic market, causing the domestic prices to drop.
IX prices fell from $1,405-1,415/tonne (€1,054-1,061/tonne) FOB (free on board)
“We have suffered a loss as the cost of cargoes is at around CNY9, 200-9,300/tonne,” a trader in east
($1 = CNY6.30, $1 = €0.75)
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