Commodities 2023: Global PX braces for greater volatility on new supply, demand uncertainties

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Asian paraxylene market is likely to be driven by increasing supply from China and global arbitrage, especially to the US, on expectations of renewed gasoline seasonal demand in 2023. However, Asian demand from the polyester supply chain remains uncertain. More paraxylene capacities are set to come onstream in 2023, further lengthening the market and putting downward pressure on margins. While…