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PX market offers for September shipment fall further
05
Aug '11
Bearish trend persisted in the Asian PX market and prices declined by US$ 20/ton to close at US$ 1,586/ton FOB Korea and US$ 1,606/ton CFR Taiwan/China on August 4.

Offers for September shipment fell from US$ 1,630/ton CFR to US$ 1,620/ton CFR, while counter offers remained firm at US$ 1590/ton CFR.

PX market offers for September shipment even fell further to US$ 1610/ton CFR, and a bid was made by a buyer at US$ 1,600/ton CFR, but it did not result in any transaction till closing time.

According to PX market analysts, the price is now being more affected by macroeconomic trend, which includes factors like speculation over stock markets and lower crude oil market.

Fibre2fashion News Desk - China

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