Price and market trends: Isomer-grade xylene prices down 4.59% on poor economic data

26 April 2013 10:09  [Source: ICB]

Isomer-grade xylene prices fell on 15 April on the back of negative economic data from China and the sharp fall in crude oil futures, according to market players.

Crude values fell by more than $2.00/bbl amid concerns over the strength of both the US and Chinese economies. Isomer-grade xylene prices fell by 4.59%, or $55/tonne (€42/tonne), to $1142-1160/tonne FOB (free on board) Korea on 15 April, from 12 April, according to ICIS data.

China on 15 April reported that its GDP growth for the first quarter of 2013 was at 7.7%, compared with 7.9% in the fourth quarter last year.

This weighed on derivative purified terephthalic acid (PTA) futures and physical prices, market players said. The bearish market sentiment then trickled to the upstream praxylene (PX) and isomer-grade xylene sectors, they added.

Lingering concerns over the economic health of the eurozone and the US does not bode well for the polyester sector as they are the main importers of China's textile exports.


By: Hazel Kumari
+65 6780 4327



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