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Asian PX, PTA & MEG trends continue surge
22
Dec '11
Paraxylene (PX) prices shot up in Asian markets. In S E Asian market, PX prices were at US$ 1485/ton. In F E Asia, PX prices went up to between US$ 1480/ton to US$ 1490/ton. PX imported from Taiwanese market was quoted around US$ 1485/ton.

In Asian markets, PTA price surged up. In F E Asian and S E Asian region, PTA prices were in between US$ 1090/ton to US$ 1100/ton. PTA imported from Taiwanese market was quoted around US$ 1095/ton. In Chinese domestic market, PTA price was around RMB 8450/ton to RMB 8500/ton.

In S E Asian market, ethylene price did not change and stood in the range of around US$ 1090/ton to US$ 1095/ton. In F E Asian market, price was in the range of US$ 1090/ton to US$ 1095/ton. In N W European market, ethylene price was at US$ 1180/ton (on CIF base). In U.S.A market, ethylene price was in the range of 52.00 cents/pound to 52.55 cents/pound.

MEG price inclined sharply in S E Asian markets and was offered in the range of US$ 1090/ton to US$ 1100/ton. In Chinese domestic market, MEG price was in the range of RMB 8350/ton to RMB 8450/ton.

In S E Asian region, BG PET Chips price was stable in the range of US$ 1560/ton to US$ 1570/ton. In F E Asian markets, selling offers were around US$ 1560/ton for export goods. In Chinese market, BG PET Chip was offered at RMB 11300/ton.

In Korean markets, FG PET Chips prices was in the range of US$ 1415/ton to US$ 1420/ton and in Indian market, FOB based price was assessed in the range of US$ 1425/ton to US$ 1435/ton. In Chinese market, FG PET Chip hovered at RMB 10450/ton to RMB 10550/ton. PET Chip is expected to remain firm in near term.

PSF price were stable in Asian market and hovered in the range of US$ 1605/ton to US$ 1615/ton. In S E Asian market, PSF offers were around US$ 1610/ton. In Chinese domestic market, PSF offers were stable around RMB 11100/ton to RMB 11250/ton.

Polyester POY prices in Chinese domestic market remained stable and were quoted around RMB 11850/ton. FDY and DTY selling offers were at RMB 12400/ton and RMB 13300/ton, respectively. In export market, offers for POY, FDY and DTY were at US$ 1610/ton, US$ 1675/ton and US$ 1800/ton, respectively.

Editorial Note:
In last few days, moderate economic data from USA and European region, provided momentum to oil prices. PX followed the stream and went up along with energy prices. It supported PTA market fundamentals as well. Rest of the products in polyester value chain received support, due to moderate demand from downstream market.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India

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