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PX dips & PTA prices weak in first fortnight of April

21
Apr '12
In the first fortnight of April, paraxylene (PX) prices declined and PTA trends remained weak and bearish.

In the reporting period, PX price followed downward trend in Asia and Europe which was triggered by US market.

Many market speculators were pessimistic about PX trade in the short term, as traditionally PX prices normally rise in the second quarter.

In the second half of the fortnight, PX remained sluggish. European PX speculators blamed bearish downstream markets for weak prices.

In the period between April 1 and 7, PTA market opened with bearish factor as major Chinese buyers were absent.

According to market experts, PTA market fundamentals could not improve as feedstock prices fell as well as operation rates of downstream plants reduced.

In the second week of the fortnight, PTA price continued to remain weak due to bearish market fundamentals.


Fibre2fashion News Desk - India


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