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Paraxylene prices dip in global markets last fortnight
20
Feb '14
The prices of paraxylene (PX) decreased in Asian, European and the US markets in the last fortnight ending February 15, 2014, compared to the previous fortnight ending January 31, 2014.
 
In Korean market, the average price of PX in the last fortnight was US$ 1290/ton, showing a drop of 23.21 percent compared to the average price of $1680/ton prevailing during the corresponding fortnight of the last year.
 
The average price of $1290/ton in the Korean market in the last fortnight was 3.37 percent lower than the $1335/ton average price recorded in the previous fortnight. Continuing with the downward trend, PX price was assessed at $1285/ton on February 19, 2014.
 
In Far East Asia, the average PX price decreased by 2.64 percent to $1290/ton in the last fortnight as compared to $1325/ton in the previous fortnight.
 
In Southeast Asia, the average price of PX dipped by 2.59 percent to $1315/ton in the last fortnight, vis-à-vis the average price of $1350/ton in the previous fortnight. On February 19, 2014, PX price was assessed at $1310/ton.
 
The decline in PX selling offers in Asian markets during the last fortnight was mainly due to poor buying interest in key markets.
 
In European market, selling offers for PX declined due to bearish downstream demand coupled with poor price trend in the Asian and the US markets. In Europe, PX average price plunged by 2.02 percent to $1215/ton, as against the average price of $1240/ton in the previous fortnight. On February 18, 2014, PX price was assessed at US$ 1205/ton.
 
In US, average price of PX declined slightly by 0.80 percent to $1240/ton vis-à-vis the average price of $1250/ton in the previous fortnight, due to bearish demand in the region.
 

Fibre2fashion News Desk - India


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