Asian paraxylene/naphtha spread slips to 3-month low ahead of China’s Golden Week

S&P Global Platts | Sep 11, 2019 at 2:47 AM
  • The cash spread between Asian paraxylene and naphtha weakened to a three-month low Wednesday as plant maintenance dragged values lower ahead of China’s upcoming National Day holidays.
  • Since the start of July, the spread between the CFR Taiwan/China paraxylene marker over the CFR Japan naphtha physical had been trading in a limited range of around $300-$351.67/mt.
  • Thereafter, from mid-October, Jiangsu Honggang Petrochemical Co. Ltd., will take the 1.5 million mt/year purified terephthalic acid plant in Lianyungang offline for a two-week maintenance.