Blast may crimp PX supply, push up price

Compound is widely used in textiles and pharmaceutical items

The explosion that ripped through a chemical plant in Fujian province and sparked a major fire may cause paraxylene supply shortages and price hikes, an industry expert said on Tuesday.

The plant was owned by Tenglong Aromatic (Zhangzhou) Co Ltd, one of China's major paraxylene producers. Up to 19 people including firefighters are believed to be injured from the accident, which was reportedly caused by an oil leakage.