PX moves up slowly, PTA & ethylene firm

23 Jul '10

1 min read

PX market went up with a slow and steady pace and the current price level in Asia stood at US $865/ton. In S E Asian market PX traded around $860/ton while in Korean markets, it was traded in the range of $840-845/ton. In Rotterdam market, price was in the range of $870-875/ton. In USA market, price was around $875/ton.

PTA spot market remained firm. Taiwan PTA was offered at $855/ton, but deals concluded mainly around $845-850/ton. Cash transactions in Korea were made at $825-830/ton. Market transactions in terms of volume were low.

In S E Asia, ethylene quotes remained firm in the range of $794-796/ton. In European market, price was steady at €925/ton while imported ethylene was available at $950/ton. In the US market, price of ethylene was around 33 cents/pound.

The MEG market recovered its lost strength and rose from the bottom of $690/ton and touched around $705/ton. Few confident sellers kept their Chinese domestic price at RMB 5,850/ton while trading was mainly around RMB 5,800/ton and offers in export market increased to $710/ton.

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