Mumbai, (India): A bearish wind has continued to blow across the European and Asian Meta- Xylene (m-xylene) markets, with prices having tracked a stable to falling trend since the start of August xxxx, mainly due to poor demand fundamentals. Further, freight rates have fallen during the month which further weakened the prices of m-xylene in the regional market. Meanwhile, many market players have exhibited a lack of confidence in short-term trends, pointing to the possibility of extended downward movements.
Prices of m-xylene have witnessed a decline of USD xx/MT in the Indian market during the fourth week of August xxxx as market sentiments were reportedly muted with prices decreasing due to a decline in overseas import offers. Market participants reported that the domestic demand for m-xylene from the downstream Isophthalic acid has continued to remain sluggish as consumption from the key- end-user PET...
