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PX, PTA & MEG prices decline
Nov '10
Paraxylene prices marginally declined to US $1270 / ton. PX imported from the Korean market stood around $1265-1270 / ton. For December delivery, price was quoted in the range of $1265-1270 / ton. In European market, PX was priced around €925 / ton.

Sellers of PTA were forced to reduce prices to the level of $1110 / ton, in S E Asian market. In Korean region, it was assessed around $1110 / ton. The main reasons for the earlier surge in prices were the recent outages at plants in Asia, along with positive news on the US economy. Speculators expect price to stay around $1100 / ton, in short term future.

Ethylene market continued to move downwards due to ample availability and was assessed around $950-955 / ton in S E Asian market. In US market, price of ethylene was around 50.75 cents/pound. In European market, price was in the range of $1155-1160 / ton and in F E Asian market, price was around $970 / ton.

MEG prices declined due to strong resistance from downstream and offer price was heard around $1010-1015 / ton, while genuine buyers cautiously concluded trade around $1000-1010 / ton.

Offer price of FGPET chips in Chinese market was in the range of RMB 11700-12000 / ton and BGPET Chip was quoted around RMB 11900-12100 / ton. In F E Asian market, price of BG PET Chip was in the range of $1130-1140 / ton.

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Fibre2fashion News Desk - India

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