In the first week of May, paraxylene prices increased in both the USA and Germany on supply side restrictions and modest demand fundamentals, however, feedstock pressure from naphtha began to ease. The demand for paraxylene from downstream sector remained moderate in the USA and slightly weakened in Germany.
In the USA, paraxylene prices increased x.xx, continuing the upward trend and bullish sentiment observed over the previous weeks. The increase occurred despite a slight decline in feedstock naphtha prices based on wider decreases in global crude oil prices. While the decline in production costs, this ease had no effect on paraxylene prices, market sentiment was driven from a persistently tightening domestic supply and steady downstream consumption. Both downstream PTA (purified terephthalic acid) and PET (polyethylene terephthalate) prices remained stable, indicating steady consumption in the packaging and textile sectors. Paraxylene FOB Texas prices at the end...
