Ethylene & PSF trends stable, MEG ascends

31 May '11

3 min read

Paraxylene market went down by US$ 25/ton to around US$ 1495/ton. In S E Asian region, price was quoted in between US$ 1500/ton and US$ 1505/ton. In the F E Asian market, price hovered in the range of US$ 1495/ton to US$ 1505/ton. In Chinese market price went down to US$ 1500/ton.

In S E Asian markets, PTA price remained firm around US$ 1210/ton in Asian market. In Chinese market, PTA price hovered around RMB 9700/ton but trading price hovered in between RMB 9675/ton to RMB 9725/ton. In Asian market PTA price remained range bound in between US$ 1205/ton to US$ 1215/ton.

Ethylene price remained stable at around US$ 1250/ton in S E Asian market. In F E Asian market, price was in the range of US$ 1245/ton to US$ 1255/ton. In European international and domestic market, price remained around US$ 1545/ton and € 1110/ton, respectively. In USA market, ethylene was quoted around 65.55 cents/pound to 66.15 cents/pound.

MEG markets in S E Asian region jumped up. Prices hovered mainly in the range of US$ 1150/ton to US$ 1155/ton. In Indian markets, price of MEG inclined to around US$ 1145/ton to US$ 1165/ton and in Chinese market, MEG price stood in the range of RMB 8850/ton to RMB 8950/ton.

BGPET Chips price in S E Asian region was in between US$ 1690/ton to US$ 1700/ton. In F E Asian markets, selling offers were around US$ 1585/ton for exportable goods. In Chinese market BG PET Chip was at RMB 11800/ton.

FGPET Chips prices in Korean markets remained stable around US$ 1565/ton to US$ 1585/ton and in Indian market; it was assessed in the range of US$ 1555/ton to US$ 1575/ton. In Chinese market FG PET Chip was quoted at RMB 11850/ton to RMB 11900/ton.

PSF price remained firm to stable in Chinese markets, offers hovered around US$ 1805/ton to US$ 1815/ton. In Indian market 1.4 D PSF was around INR 95.75/Kg. 1.4 D Super black was around INR 106.25/Kg. In S E Asian market PSF offers were around US$ 1760/ton. In Chinese domestic market PSF offers were around RMB 12500/ton.

Polyester yarn market in Chinese domestic market remained unchanged. Offers for FDY and POY were at RMB 14800/ton and RMB 14450/ton respectively. Selling offers for DTY was around RMB 16300/ton. In export market offers for POY, FDY and DTY were US$ 2015/ton, 2305/ton and US$ 1988/ton, respectively.

Editorial note -
PET value chain is becoming firm in recent days. Recently PX fell below the benchmark level of US$ 1500/ton, but speculators expect that PTA and its downstream would support in short term future and price may recover soon.

Ethylene price remained firm to stable where as MEG market went up mainly due to active buying from downstream polyester manufacturers. Speculators are optimistic at present and approach was balanced.

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Fibre2fashion News Desk - India

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