Paraxylene spot prices in Europe closed $20/mt lower day on day at $1,340/mt FOB ARA Thursday, as global sentiment continued to decline. The week-on-week decline was $65/ mt. Sources said that, in order to work the arbitrage to Asia, product would have to be bought at around $1,290/ mt FOB ARA although product at $1,310/mt might work to the US. “There may be pockets of better netbacks into the US,” claimed a trader. However, producers would be unlikely to sell at anything close to this level.
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