Home / Knowledge / News / Textiles / Asian PX offers stay firm in last fortnight
Asian PX offers stay firm in last fortnight
31
Dec '11
In the period between December 15 and 30, selling offers for PX remained firm due to tight supply side. In the beginning of the fortnight, selling offers for PX were firm. PX price opened at US$ 1445/ton to US$ 1450/ton in F E Asian markets.

In S E Asian market, offer for PX was in the range of US$ 1465/ton to US$ 1475/ton. In European market, selling offers opened around US$ 1330/ton which quickly increased to US$ 1345/ton by the end of the first half of the fortnight. In Taiwanese market, PX price opened around US$ 1450/ton to US$ 1460/ton and remained stable around US$ 1455/ton during the first few days.

During the first half of the last fortnight, PX price remained volatile due to fluctuations in energy prices. Year-end pressure and moderate inventories led to a softening in demand from downstream side.

During the first half of the fortnight, selling offers for PX were around US$ 1450/ton in Chinese market and remained stable in the range of US$ 1445/ton to US$ 1455/ton by the end of the first half of the fortnight. In European and US market, selling offers for December were hard to conclude due to festive season. Selling offers in US and Europe were in the range of US$ 1330/ton to US$ 1350/ton. In Asian markets, selling offers for PX by optimistic sellers hovered around US$ 1460/ton.

In the second half of the period under review, PX offers remained range bound. During the second half of the fortnight, PX price went through fluctuations but stabilized around US$ 1440/ton in Asian markets. In PX market, price fell mainly due to year approach and festive season in Western world. Moreover, weak demand of PX from downstream added bearish pressure in buying sentiment.

In the second half, buying trend was quite in global markets but there were robust inquiries for January delivery. Due to the same reason, PX price increased for US and European delivery as well. By the end of the fortnight, PX prices also firmed up in US market, as price hovered around US$ 1345/ton.

Market speculators were bullish for January as contractual nomination was increased by all major players. S Oil nominated its January contractual price at around US$ 1530/ton where as JX Nippon oil and Idemitsu Kosan kept it around US$ 1510/ton and US$ 1550/ton respectively.

By the end of month, selling offers for PX hovered around US$ 1450/ton to US$ 1455/ton in F E Asian markets. In S E Asian market, selling offers were in the range of US$ 1475/ton to US$ 1480/ton. Selling offers for PX in US and Europe were in the range of US$ 1360/ton and US$ 1355/ton respectively. Selling offer for PX in Taiwanese market was in the range of US$ 1460/ton to US$ 1480/ton.

Editorial Note:
PX market is expected to remain firm in the short term future due to firm downstream demand.


Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 29th Mar 2017

Li & Fung introduces new 3-year plan 2017-2019

Li & Fung Limited has outlined its next Three-Year Plan (2017-2019)...

Courtesy: Carrington

Apparel/Garments | On 29th Mar 2017

Carrington Workwear signs JV with TMG Textiles

Carrington Workwear, one of the largest producers of workwear fabrics ...

Apparel/Garments | On 29th Mar 2017

Jabong launches Aeropostale on its platform

Jabong has added leading American high-street fashionwear brand,...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search