PriceSeek Key Alert: U.S. PX prices fall 5 dollars/ton

On December 16th, the closing price of dimethyl benzene in the United States region fell by $5 per ton, closing at $879-$889 CIF US harbor. PriceSeek's analysis on PX suggests a bearish outlook, with a rating of -1.5. The spot price for PX in the U.S. region decreased by $5 per ton to $879-$889 CIF, indicating a market supply surplus or weak demand, which is bearish for spot prices. Additionally, the futures contract for PX, if settled at 2601, had a settlement price of $6772 per ton and a decrease of 40 yuan, along with a reduced open interest, reflecting a bearish market expectation, further reinforcing downward pressure. Overall, a negative rating of -1.5 indicates that it is likely to continue suppressing short-term prices.