SE Asian-origin PX fetches first premium after June

12 July 2012 09:39  [Source: ICIS news]

SINGAPORE (ICIS)--A southeast Asian-origin paraxylene (PX) cargo fetched a premium, the first after discounts in June, in line with a month-long rally in spot prices on the back of recovering feedstock prices and firming crude values, market sources said on Thursday.

The 5,000 tonne August shipment was sold on a FOB (free on board) southeast Asia basis at a single-digit premium to 50% Asian Contract Price (ACP): 50% spot CFR (cost & freight) Taiwan quotes during the week, the sources said. The exact premium was not immediately available.

The spot prices of PX were at $1,343-1,353/tonne (€11,101-1,109/tonne) CFR Taiwan and/or China Main Port (CMP) on 11 July, up by $116-123/tonne month on month, according to ICIS data.

Downstream purified terephthalic acid (PTA) prices gained $70/tonne on average or 7.7% compared with a month ago to settle at $975-986/tonne CFR CMP on 11 July, according to the data.

($1 = €0.82)

By: Yu Guo
+65 6780 4359

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