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Fearing price hike, demand for EG & PTA skyrockets
05
Jun '08
Recently, Government announced its plans to further raise oil prices. Thus, experts anticipate that prices of all raw-materials will shoot-up soon.

Considering this, Taiwanese traders are rushing to procure Ethylene glycol (EG) as well as PTA from the local dealers.

Though, May-July period is a low-season, the demand this year is high as traders are looking to fill up their inventories before the price hike.

It has been noted that business for this product is not very good and market is expected move downwards. Insiders say that kowing this, the PTA manufacturers are planning to cut down output by about 10 percent.

Besides, the POY (polyester) manufacturers in China mainland will also decrease the production by about 40 percent.

China is also marking a significant growth in imports. This April, China mainland imported 354300 tons of PX (parxylene), up by 36 percent than the same period last year.

Fibre2fashion News Desk - China


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