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Marginal increase in Asian PX prices
22
Jun '11
Asian PX price rose slightly by US $1.5 to US $1,424-1,444 / ton (FOB Korea and CFR China / Taiwan) on June 21.

Trading atmosphere was poor, traders held a conservative mentality, downstream demand weakened, due to the impact of decline in crude oil price.

It was reported that an offer for August shipment was made at US $1,440 / ton (CFR Taiwan / Ningbo). But sellers were mostly waiting and seeing; therefore there was no counteroffer.

The premium value of the second half of July and the second half of August expanded by US $8/ton compared with last weekend.

In the market, an offer of futures, spread between July and August shipment was US $10 / ton, while the spread in corresponding counteroffer was US $5 / ton.

Fibre2fashion News Desk

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