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Chinese PX prices fall with dip in demand

17
Apr '12
In the just concluded week, PX price fell with decline in demand, although the market tested the support level of US $1550 / ton.

At present, PTA production cost of China's domestic enterprises is around 8,800 Yuan / ton based on calculation of the cost of PX (CFR Taiwan) at US $1,554 / ton.

The theoretical loss in cost of PTA production is about 130 Yuan / ton, which narrowed to 60 Yuan / ton last week, from previous weeks.

The strong support level of PX spot price is expected to be at US $1,550 / ton in the short term. PX market will maintain vulnerable volatilization this week, due to existing supply gaps.

Fibre2fashion News Desk - China


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