Mixed Xylene Drifts Lower on Petrochemical Oversupply

Polyester Chain Drag

The weakness in MX is directly linked to the health of the polyester market. With global textile demand softening and PX inventories high, chemical producers are reducing their intake of Mixed Xylene feedstock.

Reformate Spreads

Despite the bearish demand, MX prices are being prevented from a total collapse by the rising cost of reformate. As crude oil prices stabilize, the intrinsic value of the aromatic stream provides a hard floor, likely around the $740 level, heading into the new year.