PX & ethylene gallop higher

23 Aug '10

2 min read

Paraxylene opened with a price hike of US $10 / ton and was quoted at $950 / ton in S E Asian market, but could not realize beyond $940 / ton. In Korean market, closing prices increased to $935 / ton, while in Taiwanese market, price was around $942 / ton.

PTA produced in Taiwan was offered at $900 / ton, the buying inquiries were in the range of $880-885 / ton. Offers for the PTA in S E Asian market was at $880 / ton but traded around $870-875 / ton. By the end of the day, sentiment had improved and buyers accepted offers around $880 / ton, but no official confirmation was available.

Ethylene galloped higher and opened with gain of $10 / ton. In Asian market, ethylene price surged to $920 / ton while in the European market, price was in the range of $1015-1025 / ton. In N E Asia market, price stood at around $970-975 / ton.

MEG sellers continued to face struggle at $800 / ton level. Today MEG market went through volatile sessions. Offer price was around $800 / ton but trading could be concluded in the range of $790-795 / ton. Buying inquiries were fulfilled around $785 / ton only.

FG PET Chips were offered in the range of $1180-1200 / ton but deals were concluded in the range of $1170-1180 / ton, which is expected to grow as demand from Latin America was growing.

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Fibre2fashion News Desk - India

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