ChemPriceHub Key Alert: Asian PX Prices Drop by $16 Impact

On January 15, the closing price of para-xylene (PX) in the Asian market fell by USD 16 per ton, settling at USD 856–858 per ton FOB Korea and USD 881–883 per ton CFR China. PriceSeek analysis of PX, Bull-Bear Score: -1.5. Reason: Spot prices of PX in Asia dropped by USD 16 per ton, closing at USD 856–858 per ton FOB Korea and USD 881–883 per ton CFR China, indicating market oversupply or weak demand, which constitutes a significant bearish factor for spot prices. Combined with PX futures data, such as the settlement price of the 2603 contract at CNY 7,244 per ton (down CNY 68) and the 2605 contract at CNY 7,284 per ton (down CNY 64), the futures market is under simultaneous pressure. The decrease in open interest for the main contract reflects heightened bearish sentiment among investors. Therefore, the score is -1.5, indicating a major bearish outlook, with expectations that both spot and futures prices will continue to face downward pressure in the short term.