The US paraxylene market strengthened during early July **** as short covering by traders and selective spot replenishment lifted prices following the sustained weakness observed throughout June. Paraxylene prices increased by *.*** during the latest weekly assessment, reflecting improved trading sentiment rather than a structural recovery in downstream demand. After several weeks of declining prices, paraxylene buyers returned to the market to replenish limited inventories, providing temporary support to spot values.
Despite the recovery, downstream demand for paraxylene remained generally subdued. PTA producers, polyester manufacturers, and PET resin producers continued purchasing paraxylene only according to immediate production requirements, while comfortable inventories discouraged aggressive procurement. The packaging sector also maintained cautious buying patterns, leaving overall paraxylene consumption below levels typically associated with a sustained price recovery.
Weak downstream margins continued to limit paraxylene demand throughout early July. Polyester producers and PET resin manufacturers remained...
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