Asian OX trade to stay subdued, opposing market factors

摘要

SINGAPORE (ICIS)--Spot trade for orthoxylene (OX) in Asia is expected to remain subdued, amid a combination of weak downstream conditions, against a backdrop of limited prompt supply. Inventories had been low, as regional producers kept operating rates at a minimal, on the back of firm feedstock isomer grade mixed xylenes (MX) costs. Recently, the price gap between feedstock MX and co-product paraxylene (PX) improved, and this might entice several producers to increase run rates slightly.