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Paraxylene contract prices for May shoot through the roof
27
Apr '09
Three leading manufacturers, ExxonMobil, Idemitsu and Nippon Oil, have recently announced that they will significantly increase Paraxylene (PX) contract prices in May and it could rise by as much as 17.6 percent, the highest single monthly growth.

This in turn will have a multiplier effect on prices of feedstock and downstream products and significantly impact prices of raw materials like PTA and in turn polyester fibre production plants will also be forced to drastically increase their prices.

The three international petrochemical companies have announced that they would increase contract prices in May to US $1030-1040 per ton, close to the spot price of $1050 per ton, which represents a rise of 17.6 over that of the April price.

The contract price in April was ruling at $880 per ton and in January it stood at $620 per ton, which means it has grown by nearly 67 percent in May, when compared with those prevailing in April and that too in a span of just 5 months.

Fibre2fashion News Desk - China

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