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PX & ethylene range bound, MEG bounces back
22
Oct '10
Paraxylene prices remained range bound as market fundamentals are quite unbalanced. In Chinese spot market, PX price consolidated by US $5 and stood in the range of $1225-1230 / ton. PX imported from the Korean market was quoted around $1220 / ton.

PTA offer hovered around $1045 / ton but trading concluded mainly in the range of $1040-1045 / ton in the S E Asian market. In Korean region, it was assessed around $1025-1030 / ton. Trading volume has been quite marginal in last few sessions.

Ethylene price was range bound around $1082 / ton and in S E Asian market, price was recorded around $1080 / ton. In European market, ethylene price was in the range of $1110-1115 / ton. In European domestic market, it declined to €912 / ton. In US market, price of ethylene was around 37 cents / pound.

MEG price regained the loss of $10 / ton and bounced back to $965 / ton. In S E Asian market, price was in the range of $965-970 / ton. Buyers still tried to pull down price in the range of $960 / ton. In Chinese domestic market, price of MEG was in the range of RMB 7650-7750 / ton.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India

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