Paraxylene:United States

摘要

Spot PX climbed $7/mt higher this week despite the drop in Asia. The spot market in the US being quiet and a closed arbitrage window to Asia had negated the use of the Asia netback as a guide for where US PX would be traded. Instead, PX followed the trajectory of MX as producers simply would not make it at a low enough price for export. The notional break-even price for making PX was MX+$150/mt which was equivalent to $908/mt. This was much too high for spot exports considering CFR Taiwan/China prices were at $907/mt. In contract news, negotiations were ongoing.