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MEG & PSF prices up, polyester yarn stays unchanged
Jun '11
Paraxylene market remained stable 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$ 1225/ton in Asian market. In Chinese market, PTA price hovered around RMB 9675/ton, but trading price hovered in between RMB 9650/ton to RMB 9750/ton. In Asian market, PTA price remained range bound in between US$ 1220/ton to US$ 1235/ton.

Ethylene price remained stable 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 declined 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$ 1170/ton to US$ 1185/ton. In Indian markets, price of MEG inclined to around US$ 1175/ton to US$ 1190/ton and in Chinese market, MEG price stood in the range of RMB 8875/ton to RMB 8975/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 12450/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 at RMB 11850/ton to RMB 11900/ton.

PSF price went up in Chinese market and offers hovered around US$ 1770/ton to US$ 1820/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$ 1775/ton. In Chinese domestic market, PSF offers were around RMB 12550/ton.

Polyester yarn market in Chinese domestic market remained unchanged. Offers for FDY and POY were at RMB 14700/ton and RMB 13900/ton respectively. Selling offers for DTY was around RMB 15900/ton. In export market, offers for POY, FDY and DTY were at US$ 2015/ton, 2305/ton and US$ 1988/ton, respectively.

Editorial note -
Polyester value chain looked firm and confident. Today, PET feedstock like PX, ethylene and MEG broke important psychological levels, hence speculators kept close eye on them. News of antidumping duty removal on Chinese PSF, by European Union, created positive sentiment in the market.

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Fibre2fashion News Desk - India

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