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Prices of major petrochemicals ascend
23
Apr '10
The most active PTA contract TA1009 opened higher at 8552 Yuan / ton yesterday and closed at 8,552 Yuan / ton being driven by late buying. However, trade volume shrank to 211,842 lots yesterday, open interest decreased to about 195,582 lots.

In the PTA spot markets, it closed at 8,172 Yuan, down 30 Yuan per ton or -0.37 percent, market inquiries slightly increased and mainstream talks for domestic supply were around 8,200 Yuan / ton, discussions over Korean goods were around US $970-975 / ton.

On April 21, Asian PX rose US $10 to $1035-1040 / ton (FOB Korea), European PX grew $5 to $1045 / ton FOB Rotterdam. Asian heterogeneous MX ascended by $7 to $930-935 / ton (FOB Korea) and naphtha climbed $10 to $763-767 CFR Japan.

Asian ethylene stabilized at $1259-1261 / ton (CFR Northeast Asia) and $1224-1226 / ton, (CFR Southeast Asia).

Inquiries in polyester chips market significantly increased, local transactions enlarged. Trades were generally conducted in range of 10,050-10,100 Yuan / ton (payment in cash, shipment to be made by buyer).

Fibre2fashion News Desk

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