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PX prices dip across all global markets last week
17
Jul '14
PX prices dipped across all global markets last week. In Korea and SE Asia, they fell due to sluggish downstream demand, weaker upstream energy prices in the region as well as lower downstream product prices, while those in Europe and US followed trends set by Asian markets.

In Korea, PX prices went down in the last week due to sluggish downstream demand, weaker upstream energy prices in the region as well as lower downstream product prices. Prices opened at US$ 1350/ton FOB Korea, lower by US$ 110/ton as compared to the same period of its previous week. Prices were spotted at US$ 1340-1380/ton FOB Korea during the week.

In S.E. Asia, prices showed similar trend as Korea in the last week. In the initial days of last week, prices were at US$ 1375/ton, lower by US$ 110/ton as compared to the same period of its previous week and during the week, prices hovered in the range of US$ 1360-1400/ton CFR S.E. Asia.

In Europe, prices showed similar trend as Asia in the last week due to lower prices in Asia and US coupled with dull downstream buying interest and lower upstream energy prices. In the initial days of week under review, prices were assessed at US$ 1290/ton, lower by US$ 60/ton as compared to the same period of the previous week. Prices were assessed during the week at US$ 1280-1290/ton FOB Rotterdam.

In US, prices showed downward trend as in Asia and Europe last week. In the initial days of week, prices were assessed at US$ 1295/ton, lower by US$ 75/ton as compared to the same period of its previous week. Spot PX prices were witnessed at US$ 1285-1300/ton FOB US during the week.

Fibre2fashion News Desk - India

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