SINGAPORE (ICIS)--Discussions for isomer-grade xylene cargoes in Asia were higher on Tuesday, tracking gains in the upstream crude and naphtha markets.
Bids for July emerged at $638-639/tonne FOB (free on board) Korea, up $5/tonne from the previous day.
Sellers remained at the sidelines as they deemed July supply as tight because some plants would still be undergoing maintenance.
Gains in upstream crude futures after Saudi Arabia – the world’s biggest crude oil exporter - said it would cut shipments in July, have helped pushed up discussions across the broader aromatics chain.
Increases in the downstream paraxylene (PX) and purified terephthalic acid (PTA) prices also boosted sentiment in the regional isomer-grade xylene market.