The spot price for paraxylene in Europe was assessed at $1,330/mt FOB ARA Friday, up $30/mt on the previous week and stable day on day. Stronger downstream demand in Asia led to sellers seeking to take advantage of the arbitrage on offer. “The suppliers are looking for possibilities to arbitrage to Asia. Demand in Asia is not great, but I hear polyester demand in China is getting better, so that could provide some opportunity,” said one trader. However, a lack of material made this difficult.
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