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Demand to fuel PX price rise in Jan

26
Dec '05
Low market activity may not deter prices of Paraxylene (PX) in the Asian markets from rallying forward as indicated by the February offers that swayed between US $960 to $980 per metric ton CFR levels.

Main South East Asian producers Polysindo and Polyprima have moved out of markets citing low inventories, as sellers had earlier accumulated large stocks from them.

As a result, markets witnessed bearish trends, but futures look promising in Asia post-holidays, view majority of market players.

China's Xiang Lu and Polysindo, Indonesia smoothened their operations as did South Korean firm Hyosung that streamlined its 420 kilo ton per annum PTA plant after a shutdown last month, all to accelerate PX feedstock demand. The latter will boost the PX availability by another 40 kilo ton per annum.

Meanwhile, another news relates to Samsung Daesan's 700 kilo ton per annum PTA capacity that stopped operation as one of its compressor developed problems. Sources say plant will be function normally this month end as repairs are being carried out in full swing.


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