There has been significant fall in the prices for almost all petrochemical products due to outbreak of corona virus across the globe. Citing specific chemical like Para xylene , Styrene Monomer and Toluene. PX prices fell to below $600/tonne CFR (cost & freight) China/Taiwan on 16 March, compared with $614-616/tonne CFR China/Taiwan on 13 March. Deal for the June was confirmed around USD 580/MT. Falling upstream naphtha and energy markets, coupled with stable-to-weak demand as a result of a bearish macroeconomic environment is increasing the risk for producers to face inventory losses, despite healthy margins.
