PX remains range bound, MEG declines

19 Nov '10

2 min read

The demand for PX was still very strong which supported the high PX prices. PX price is expected to remain range bound in between US $1245-1250 / ton.

PTA market price stood in the range of RMB 9400-9500 / ton, while a few Asian PTA offers for small amount of goods in S E Asian market were quoted at $1165 / ton. However, the actual negotiations were between $1160-1165 / ton. PTA offers from Korean market were in the range of $1145-1155 / ton. The short term, market sentiment has not yet stabilized, the trend was not clear, and continues to oscillate.

Ethylene market was more or less stable. Price was unchanged in S E Asian market and was assessed in the range of $955-960 / ton. In US market, ethylene was priced around 52.25 cents/gallon while in European market it stood in range of $1130-1140 / ton. In S E Asian market, due to excessive supply, buyers held their purchasing offers and took stance of wait and watch.

Selling offers for MEG declined in Korean market and were quoted in the range of $1015-1020 / ton. In S E Asian market, selling offers were in the range of $1015-1020 / ton.

BGPET Chip in S E Asian market was assessed in the range of $1600-1610 / ton. In Korean market, offer was around $1600 / ton while trading concluded mainly around $1570-1580 / ton. In Chinese domestic market, offers stood in the range of RMB 13500-14100 / ton.

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Fibre2fashion News Desk - India

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