Hamburg, (Germany): During the second week of September, the European ortho-Xylene market experienced sluggish trading activity owing to dampened purchase appetite seen in the post-summer holiday period. Demand for o-Xylene remained subdued over the past week, with most buyers having concluded their purchase prior to September. Meanwhile, spot prices have remained in the stable to moderately weaker range, reflecting a slowdown in buyer inquiries.
o-Xylene prices have been on a downward trajectory in the German market due to a combination of sufficient supply and weak demand which has been exacerbated by economic headwinds in the domestic market. The domestic production cost of o-xylene has eased due to the decrease in feedstock Naphtha prices. Furthermore, global oil benchmark crude futures settled at their lowest level, after OPEC+ revised down its demand forecast for this year and xxxx, offsetting supply concerns from Tropical Storm Francine. The decline in...
