Ethylene & MEG prices on upward curve

22 Nov '10

2 min read

The demand for PX was still very strong which supported the high PX prices. PX price remained range bound in between US $1230-1240 / ton but was traded around $1235 / ton.

In China, PTA market price was in the range of RMB 9500-9750 / ton. A few Asian PTA offers for a small amount of goods in S E Asian market stood at $1175 / ton. However, the actual negotiations were in between $1170-175 / ton. PTA offers from Korean market was around $1160 / ton.

Ethylene price is galloping, due to robust demand from downstream derivatives. In S E Asian market, it was quoted in the range of $1000-1005 / ton.

In US market, ethylene was priced around 51.25 cents/gallon while in European market it was assessed in range of $1150-1155 / ton and in European domestic market, price was around €933 / ton.

MEG offers increased by $10 / ton and in S E Asian market, selling offers were in the range of $1025-1030 / ton. Speculators expected further price hike due to firm upstream market.

Price of BGPET Chip in S E Asian market increased, in tandem with feedstock. In Korean market, offer was in the range of $1600-1610 / ton. In Chinese domestic market, offers were in the range of RMB 14100-14250 / ton.

FGPET Chip was assessed in the range of $1620-1625 / ton (CNF India).

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Fibre2fashion News Desk - India

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