Hamburg, (Germany): In the last week of May xxxx, Mixed Xylene prices persistently dropped across the European market amid a knee-jerk response to bearish crude oil futures, challenging economic headwinds, and thin derivative demand. Nevertheless, elusive supplies due to persistent Red Sea disruptions, coupled with low domestic operating rates, deterred steep falls. Now, the question is whether the bearish sentiments will continue next month.
In Germany, Mixed Xylene prices decreased by USD xx/MT during the week ending May xx, xxxx. Feedstock Naphtha prices continuously dropped, resulting in lower production costs for Mixed Xylene in the domestic market, leading to bearish market sentiment among manufacturers. On the other hand, crude oil prices slumped last week to the lowest in three months due to a forecast of slower demand growth than previously expected, rising stockpiles in the US, and uncertainty over the extension of voluntary production cuts...
