The Asian isomer-grade mixed xylenes-naphtha spread was at a 52-month high of $391.12/mt Friday as isomer-MX prices surged to a 37-week high of $1,365/mt FOB Korea on strong downstream paraxylene.
Platts last assessed the isomer MX-naphtha spread higher on May 10, 2007, at $395.25/mt.
The isomer-MX market in Asia has been on a bullish trend since early July on tight supply, limited deepsea cargoes from US and a very firm PX market.
Isomer-MX prices surged by $204/mt, or 17.6%, from July 7 to be assessed at $1,365/mt FOB Korea last Friday, while naphtha rose by $13.88/mt or 1.5% to $973.88/mt CFR Japan over the same period. This resulted in the isomer MX-naphtha spread to skyrocket to $391.12/mt Friday, up by $190.12/mt or 94.9% from July 7.
Isomer-MX producers, who use naphtha as feedstock typically require a isomer-MX-naphtha spread of $150/mt to break even.
