On January 8, the closing price of para-xylene (PX) in the Asian market fell by USD 13/ton, settling at USD 861-863/ton FOB Korea and USD 886-888/ton CFR China. PriceSeek's analysis of PX indicates a bearish score of -1. In the spot market, the Asian PX closing price declined by USD 13/ton to USD 861-863/ton FOB Korea and USD 886-888/ton CFR China, reflecting ample supply or weak demand, which exerted downward pressure on spot prices. In the futures market, based on data from the Zhengzhou Commodity Exchange's PX main contract 2603 (closing price: CNY 7,168/ton, down 68 points; settlement price: CNY 7,242/ton; open interest decreased by 2,108 lots), the price decline trend aligns with the spot market. The reduction in open interest suggests strengthening bearish sentiment, and it is anticipated that futures prices will face short-term pressure. The score is -1.0 (moderately bearish), as the decline is moderate and has not reached extreme levels.
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