Rising Inquiries From the Downstream Market Propelled Mixed Xylene Prices in the USA

Mixed Xylene prices witnessed a rise in the USA as the demand for the product rebounded from the domestic and international markets. The spike in Mixed Xylene prices was caused by the strong demand from the downstream derivative sectors and the skyrocketing freight charges.

The Mixed Xylene market in the USA is railing back due to the soaring demand from the international markets. The rising demand for the downstream derivative Phthalic Anhydride from the end-use paint & coatings, automotive, and construction sectors resulted in high production activities. Thus, the requirement for Mixed Xylene increased from Phthalic Anhydride manufacturers, leading to the escalating price trend of Mixed Xylene.

According to the Cass Freight Index data, the freight charges in the USA were at their peak in July, which drove off the buyers. But, at present, the tight supply of products from European countries has been forcing international buyers to seek supplies from the USA. However, the price of the exported cargoes to Canada and South Korea rose, further pushing up the Mixed Xylene prices.

Moreover, after the Labour Day holiday, the Mixed Xylene market sentiments strengthened in the USA. The buying and selling activities in the domestic market boosted, inflating the Mixed Xylene production within the country. However, despite the slipping upstream Crude prices, the FOB Texas price of Mixed Xylene rose by $10 per tonne in the first week of September and continues to increase.

According to the ChemAnalyst team, the Mixed Xylene market will likely increase in the coming weeks. The demand for Mixed Xylene and its downstream derivative Phthalic Anhydride, Terephthalic Acid and Isophthalic Acid might rise due to its rising requirement in the international markets. The upstream WTI Crude prices may increase in the USA if the Mixed Xylene production rates increase.