ChemPriceHub Key Alert: U.S. PX Price Decline Exerts Downward Pressure on the Market

On February 2, the closing price of para-xylene (PX) in the U.S. market fell by USD 23/ton, settling at USD 943–953/ton FOB U.S. Gulf. PriceSeek's analysis of PX gave a bullish-bearish score of -1.5. The spot price of para-xylene in the U.S. declined by USD 23/ton, closing at USD 943–953/ton FOB, reflecting market oversupply or weak demand, which significantly weighed on spot prices. Coupled with the settlement price of the main PX futures contract 2605 at CNY 7,306/ton, down by CNY 208, and open interest decreasing by 4,819 lots, this indicates a strengthening bearish sentiment in the futures market, increasing downward pressure on prices, which may further drag down short-term futures performance.