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Asia PTA oversupply keeps downward pressure on prices

China’s naphtha imports to rise on new PX capacities

Focus article by Felicia Loo and Samuel Wong

SINGAPORE (ICIS)--China is expected to increase its imports of naphtha to feed the surge in new paraxylene (PX) capacities that came on stream last year, and this will support the current uptrend in regional naphtha prices, traders said on Friday.

China’s naphtha imports surged by more than six fold to 398,750 tonnes in February from the same month in 2014 and up by 27% month on month, according to China Customs data.

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