PTA stable, ethylene & MEG still climbing

23 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 $1220-1230 / ton but traded around $1225 / ton. In Korean market, offers were around $1275 / ton. In Taiwanese market, it was quoted around $1290 / ton.

In China, PTA market price was stable in the range of RMB 9500-9650 / ton. In S E Asian market, offer price stood at $1185 / ton, but actual negotiations were in between $1180-1190 / ton. PTA offers from Korean market was in the range of $1170-1175 / ton.

Ethylene price is climbing up, mainly due to robust demand from downstream derivatives. In S E Asian market, it was assessed in the range of $1000-1005 / ton. In US market, ethylene price was around 51.25 cents/gallon while in European market, it was priced around $1150-1155 / ton and in European domestic market, price was around €933 / ton.

MEG offers rose by $10 and in S E Asian market, selling offers stood around $1035-1040 / ton. In Chinese market, MEG offers were around $1035 / ton. Speculators expected further price hike, due to firm upstream market.

BGPET Chip in S E Asian market was in the range of $1595-1605 / ton. In Chinese domestic market, offers were in the range of RMB 14100-14250 / ton but trading was concluded around RMB 13000/ton. FGPET Chip was assessed in the range of $1620-1625 / ton (CNF India).

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