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Asian PX market moves higher
31
May '11
Asian PX market rose US $13.5 / ton to $ 1,499 / ton (FOB Korea) and $ 1,519 / ton (CFR Taiwan) on May 30.

PX market rose due to increase of downstream PTA market and high-level consolidation of crude oil market.

Currently, the cargos for arrivals in late June were offered between US $1,505-1,515 / ton CFR, but no sales were reported in the market.

At present, some cargo for shipment in late June will be rolled into July contract. The market is pushing ACP price of June shipment higher in Asia.

Fibre2fashion News Desk

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