On June 3, PX settled at $1,131.33/ton, down $26.34/ton (CFR China). The average Asian PX market price was $1,131.29/ton CFR China and $1,109.29/ton FOB Korea, up +$6.54/ton from the previous week, with increases of +0.58% and +0.59%, respectively.

During this period (May 28, 2026 – June 3, 2026, hereinafter the same), geopolitical tensions eased, leading to a decline in average oil prices. Downstream destocking occurred, while polyester production and sales remained favorable. Over the week, PX prices rose, processing spreads between PX and naphtha widened, and the price gap between PX and MX expanded. On Wednesday, June 3, the average Asian PX market price stood at $1,131.29/ton CFR China and $1,109.29/ton FOB Korea, up +$6.54/ton from the previous week, with increases of +0.58% and +0.59%, respectively. In May, Sinopec's PX settlement price was 9,530 yuan/ton (cash payment minus 15 yuan/ton).

Downstream destocking, strong polyester production and sales, rising PX prices over the week, increased processing spreads between PX and naphtha, and a wider PX-MX spread. During the period, the average PX-N spread was $346.45/ton, up +$87.58/ton from the previous week, and the average PX-M spread was $188.13/ton, up +$109.26/ton from the previous week.

Top 5 PX Representative Enterprises by Operating Capacity:

| Enterprise | Capacity: 10,000 tons/year |
| --- | --- |
| Zhejiang Petrochemical | 900 |
| Sinopec | 733 |
| PetroChina | 535 |
| Hengli Petrochemical | 500 |
| CNOOC | 405 |