PTA consolidates, PX & MEG prices rise

27 Oct '10

2 min read

Paraxylene prices inclined in tandem with upstream. In Chinese spot market, PX price increased by US $50 / ton in the last two days and price was assessed in the range of $1250-1275 / ton. PX imported from the Korean market was available around $1255-1265 / ton. In futures market, November deliveries prevailed in between $1280-1285 / ton.

PTA offers are under consolidation stage around $1055 / ton but offers were mainly in the range of $1055-1060 / ton in the S E Asian market. In Korean region it stood around $1045 / ton. In Chinese market, price was in the range of $1050-1055 / ton.

Ethylene market remained dull due to oversupply problem and price further reduced by $10 to $1020 / ton. In S E Asian market, price was recorded in the range of $1020-1025 / ton. In US market, price of ethylene was around 39.75 cents / pound and in European price was assessed around $1155-1160 / ton.

MEG market grew at slow and steady pace, with minor correction and was assessed around $970 / ton. In S E Asian market, price was in the range of $975-980 / ton. According to seller, price hike was mainly due to shortage. In the Chinese domestic market, price was in the range of RMB 7700-7750 / ton.

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