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Rise in feedstock prices pushes PTA prices up
29
Jul '09
PX which is the raw material of PTA was around US$ 780/ton at the beginning of this year 2009 and then it increased considerably to around US$1120/ton range in the month of May. Rise in feedstock prices pushes PTA prices up.

There are some signs of economic revival and companies started getting export orders for polyester products.

Downstream end users were actively buying to replenish their inventories, which supported the bullish market sentiment.During the last week price of PTA increased by more than US$ 30/ton in last few days and touched the level of US$ 1070/ton in S E Asian market.

Reasons for MEG uptrend
Due to limited availability of MEG in the Asian region, as arrival of cargoes from Middle East Asian market delayed.

MEG ACP for month of August increased by the major producers; which supported the bullish market sentiment in the spot market. Ethylene, which is the raw material of MEG, had shown considerable price increase in the recent times which forced MEG producers to increase their prices.

During the last week price of MEG increased by more than US$ 30/ton in last few days and touched the level of US$ 720/ton in S E Asian market.

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Fibre2fashion - News Desk, India

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