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PX prices fall in Korean market in May'14 over last year
05
Jun '14
In Korean market, the average price of paraxylene (PX), a key raw material for production of purified terephthalic acid (PTA) used in making polyester, in May 2014 was US$ 1200/ton, which was a decrease of 14.77 percent compared to the average price of $1405/ton in May 2013. On June 4, 2014, PX prices in Korea were assessed at $1240/ton.
 
Meanwhile, PX prices increased in all major global markets in the last fortnight ending May 31, 2014, compared to the previous fortnight ending May 15, 2014.
 
In Asian markets, PX prices surged due to support from firm upstream energy coupled with strong buying sentiments in the region. In F E Asia, the average price surged up by 4.7 percent to $1225/ton in the last fortnight, as compared to the average price of $1170/ton in the previous fortnight.
 
In S E Asia, the average price of PX jumped by 5.04 percent to $1250/ton in the last fortnight, vis-à-vis the average price of $1190/ton in the previous fortnight. On June 4, 2014, prices were assessed at $1260/ton.
 
JX Nippon Oil & Energy nominated its June PX contract prices for Asian markets at $1290/ton, which represented an increase of $90/ton over May 2014 level. ExxonMobil and Idemitsu nominated their June PX contract prices for Asian markets at $1300/ton and $1330/ton, respectively.
 
In the US market, PX price increased in the last fortnight due to firm energy in market. The average price rose by 1.32 percent to $1155/ton in the last fortnight.
 
In European market, too, PX prices increased due to strong energy in market coupled with increase in PX prices in Asian and the US markets. The average price in the last fortnight climbed 2.25 percent  to $1135/ton.
 

Fibre2fashion News Desk - India

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