May 8 News
On May 7, the Asian para-xylene (PX) market saw its closing prices drop by $63 per metric ton, with prices settling at $1,179–$1,181/mt FOB Korea and $1,204–$1,206/mt CFR China.

According to Chempricehub's PX assessment, the bull-bear rating stands at -1.5.

Spot Market: On May 7, the Asian PX market closed sharply lower, declining by $63/mt. FOB Korea was quoted at $1,179–$1,181/mt, while CFR China was at $1,204–$1,206/mt. The weakness in the overseas market is expected to drag domestic PX spot prices lower, exerting a strong bearish influence on spot pricing.

Futures Market: Domestically, the main PX contract (2607) closed down by 318 yuan/mt on May 7 at 9,404 yuan/mt. Trading volume reached 309,600 lots, with open interest at 218,900 lots. The market is dominated by short-side momentum, indicating significant downward pressure on futures prices.