PX, PTA & ethylene prices on rebound

04 Aug '10

2 min read

Asian Paraxylene prices, which stood at US $830 / ton in mid-July jumped to $900 / ton, by the end of that month. Today it took a big leap of $35 / ton and was assessed around $935 / ton in the S E Asian market. PX prices have begun to rebound and the industry chain is also expected to follow suit, in tandem with crude oil prices.

PTA offers in Asian PTA spot market price were strong. Mainstream offers increased by $10 / ton and offer price surged to in the range of $875-880 / ton. Transaction of Korean PTA goods was in between $855-860 / ton.

Ethylene price which has been affected by the upstream market, continued to increase. In Asia, PTA price opened with a gain of $20 / ton and was assessed in the range of $860-865 / ton but deals were
concluded in the range of $855-860 / ton. Market experts believe that, very soon PTA prices will touch levels of $900 / ton.

MEG market continued to bounce back as downstream buyers actively participated at prices above $770 / ton; counter bid was mainly in $760-765 / ton. Overall market continued to rise, while the allied PET raw material was strong too, which provided robust support.

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Fibre2fashion News Desk - India

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