Mixed Xylenes (MX) have remained strong in the North American market and Far East . In North America MX price went up from 4.00 $/gal to 4.27 $/gal from March to April. This has limited trade activities with Asia , as such prices have limited profitability for exports from North American. Increase of crude oil, reaching ~ 113 WTI, has remained the main cost driver of MX. Further in the European markets, there has been a demand for this feedstock by Paraxylene producers, but again, these prices have remained unattractive. Asian markets tightened as an aftermath of the earthquake and tsunami increasing by $200/ton, however, Chinese inventories were high at that point, and with a new production of 1.2 mtpa coming up, this shortage was easily filled up. So there was a sudden shock, which seems to have quietened down. However, with recovery in Japan occurring at a moderate pace, there has been a slight tightening of supply, and this coupled with recent dip in crude oil prices, has taken some steam out of this feedstock, but it still has a potential to impact downstream sector if there is a reversal in crude oil in the short run.
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