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Chinese PX, PTA & MEG trends stable
Jan '12
Chinese PX market conditions were relatively stable, trade volume declined and price stood around US $1560 in Asia.

PTA market trend was in adjustment, domestic market price was at 8,900 Yuan / ton and discussion price for foreign goods was around US $1170 / ton.

MEG market also displayed a wait-and-watch attitude, mainstream discussion for domestic goods was 8,500 Yuan / ton and negotiation for foreign goods was around US $1,120 / ton.

Pre- offer from Sinopec Group for polyester chips under January contract increased 200 Yuan. The price of semi-dull chips is 11,100 Yuan / ton, bright industrial yarn grade chips are 11,150 Yuan / ton and price of dull-class slice is 11,900 Yuan / ton.

Polyester chip market was in smooth consolidation in the week and market price stood at 10,900 Yuan / ton (on cash terms).

Fibre2fashion News Desk - China

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