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PX trends dip, PTA range bound between April 15-30
05
May '12
In the period between April 15 and 30, selling offers for paraxylene (PX) declined and those of Purified Terephthalic Acid (PTA), remained range bound.

In the period between April 15 and 30, selling offers for paraxylene (PX) declined.

In the first week of the fortnight, PX market opened with a firm reaction but gradually declined.

PX prices in Asian market slipped due to poor support from downstream demand. In the second half of the fortnight, selling offers for PX remained sluggish.

In European market, selling offers for PX declined due to price fall, attributed to dull regional buying trends and soft downstream demand.

In the early part of the fortnight, selling offers for PTA opened with firm sentiment as sellers were keen for price hike.

Suppliers preferred to hold goods over selling at cheaper rate with thin profit margin.

Speculators mainly blamed gain in upstream market and support of downstream market, for PTA prices firming up.

In the second week, PTA price continued to remain range bound.

Fibre2fashion News Desk - India

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