European spot paraxylene rose $40/mt to hit a five- month high of $1,280/mt FOB ARA Friday to close the week 3.3% higher as Asia’s sharp move upward supported buying interest, while feedstock MX surged 3.5% on rising gasoline and crude, as well as firmer U.S. values. Bids were heard at $1,240/mt FOB ARA for prompt loading for PX, but with isomer grade MX assessed at $1,118/ mt, up $38/mt on the week, production costs were also said to have risen.
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