Asian isomer MX-naphtha spread at 52-month high of $391.12/mt on firm PX

Chemical News: Asian isomer MX-naphtha spread at 52-month high of $391.12/mt on firm PX

https://www.chemnet.com Sep 06,2011 Platts
The Asian isomer-grade mixed xylenes-naphtha spread was at a 52-month high of $391.12/mt Friday as isomer-MX prices surged to a 37-week high of $1,365/mt FOB Korea on strong downstream paraxylene.

Platts last assessed the isomer MX-naphtha spread higher on May 10, 2007, at $395.25/mt.

The isomer-MX market in Asia has been on a bullish trend since early July on tight supply, limited deepsea cargoes from US and a very firm PX market.

Isomer-MX prices surged by $204/mt, or 17.6%, from July 7 to be assessed at $1,365/mt FOB Korea last Friday, while naphtha rose by $13.88/mt or 1.5% to $973.88/mt CFR Japan over the same period. This resulted in the isomer MX-naphtha spread to skyrocket to $391.12/mt Friday, up by $190.12/mt or 94.9% from July 7.

Isomer-MX producers, who use naphtha as feedstock typically require a isomer-MX-naphtha spread of $150/mt to break even.

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