On February 10, the closing price of para-xylene (PX) in the U.S. market decreased by $10 per ton, settling at $944–954 per ton FOB U.S. Gulf. PriceSeek's analysis of PX gave a bearish score of -1.5. The spot price of para-xylene in the U.S. dropped by $10 per ton, closing at $944–954 per ton FOB U.S. Gulf, indicating market oversupply or weak demand, which significantly weighed on spot prices. Combined with data from the main PX futures contract 2605, the settlement price was 7,246 yuan per ton, down 28 yuan for the day, and open interest decreased, reflecting a continued downward trend. This decline in spot prices may intensify bearish sentiment in the futures market, driving futures prices further down, as spot and futures markets are closely linked, and supply pressures may persist.
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