In the European Paraxylene market, the week ending May xxth, xxxx, continued to show a declining trend. This was driven by falling costs in the upstream market of crude oil and Naphtha, which exerted increased pressure on Paraxylene prices. With the week ending on xxth May, Paraxylene prices in the British market experienced a nearly xx reduction, settling at USD xxxx/MT. This price decline can be attributed to several factors impacting both supply and demand within the market. The reduction in oil prices in the European market was influenced by investor expectations that persistent high U.S. inflation and interest rates would dampen consumer and industrial demand. Additionally, ongoing efforts to clear the shipping channel following the collapse of the Francis Scott Key Bridge contributed to market uncertainties.
Despite these disruptions, high inventory levels kept Paraxylene prices unaffected. The downstream market for Paraxylene, particularly PET (polyethylene terephthalate),...
