Rising Asian PX supply sees reverse arbitrage flows to the US

摘要

Singapore - Higher Asian paraxylene supply and a spike in US prices have reversed the arbitrage flow of PX, with more than 30,000 mt heard fixed so far for August loading from India and the Middle East to the US or Mexico, according to market sources and shipping reports this week. More volumes could have moved from Northeast Asia, according to market sources, but the magnitude of the reverse arbitrage flow from Northeast Asia to the US is unclear. The US Gulf Coast has traditionally been an arbitrage supply source for Asia.