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PX & MEG prices undergo correction
05
Aug '10
Paraxylene prices went through a minor correction today and prices declined to US $920 / ton after touching the level of $935 / ton, yesterday. In Taiwanese spot market, PX prices were assessed around $905-910 / ton.

The offers in Asian PTA spot market price remained unchanged. Selling offers were in the range of $875-880 / ton. Meanwhile, Chinese PTA production capacity in 2010 is expected to reach 19 million tons and as per a operating rate of 90 percent, PTA production will reach 17.1 million ton.

Ethylene price was unchanged in Asia and was assessed around $860 / ton but deals were concluded in the range of $855-860 / ton. Pressure of RMB appreciation was also huge.

MEG market went through a correction after price rally since last week. Selling offers were mainly in the range of $760-765 / ton.

Overall market continued to rise, while allied PET raw material market was also strong, which provided robust support. Counter offers were in the range of $750-760 / ton.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India

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