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Daily round-up of global polyester value-chain
19
May '10
PX in Asia was down by US $13 / ton to $980 - 975 / ton in Korean market; In European market price declined by $6 / ton to $1,013 – 1,017 / ton, while in US market it was around $960 – 965 / ton.

PTA sellers offered at $880 / ton but buyers were willing to transact at only $850 / ton and then closed in the range of $860 – 870 / ton. Korean goods in cash offer stood at around $850 / ton but buyers asked for delivery at $830 / ton.

Ethylene in Asia also fell down to $1,235 – 1,240 / ton in S E Asian market while in N E Asian market price was in the range of $1,270 – 1,275 / ton. Main reason of weak price was impact of continued weakness in oil prices.

In S E Asian market, MEG price was still in range of $755 – 750 / ton. Speculators still expect further price fall in the near future.

FG PET Chips:
Due to weakness in PTA and MEG, PET chip prices too slid down. PET chip declined by $7 / ton. Imported PET chip was offered around $1,240 / ton. In Chinese domestic market, price was in the range of RMB 9,650 – 9,800 / ton.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India

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