Yuan's rise against dollar spurs China demand for imported OX

摘要

Singapore - Several Chinese traders and distributors were more interested in buying US dollar-based orthoxylene in spite of a sluggish downstream phthalic anhydride market,as they expected the Chinese Yuan to continue appreciating against the greenback,according to market sources said.There was still firm interest in US dollar OX cargoes - which typically include 90 days of credit before repayment - as several participants were confident that their final repayment amount in Yuan currency would be lower by the end of the 90 days,a trader explained.