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PX & PTA prices in resurgent mood
Aug '10
Paraxylene price once again went up and was quoted between US $920-925 / ton in S E Asian market. In Korean market, closing prices rose to $905 / ton. Offers for September delivery in Taiwanese market stood at around $920 / ton.

Asian PTA spot market too increased. PTA produced in Taiwan was offered at $900 / ton, the main discussion was at $890-895 / ton. S Korea produced spot goods were offered at $880 / ton. However, negotiation price stood at $875 / ton. Offers for PTA in S E Asian market was assessed at $890 / ton.

Buyers of ethylene adopted a much cautious, wait and see attitude. The intention to purchase goods is not strong in downstream. In S.E Asian market, ethylene prices declined to $880 / ton. Ethylene market was calm in Europe, but robust in US region.

In Asian MEG markets, trade flow was moderate. Offers for MEG successfully increased to $795 / ton, while buying offers were around $790 / ton. Selling offer for early September delivery was in the range of $792-795 / ton, which supported the market very well. In Chinese domestic market, selling offer for MEG was around RMB 6450/ton.

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Fibre2fashion News Desk - India

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