Paraxylene (PX) prices in Asia last week, climbed with price offers of $1000 per metric ton CFR Taiwan levels and buyers in South East Asia striking deals at even higher rates.
As demand for derivatives, especially in polyester sector continues to remain quiet in Asia, traders are unwilling to go in for large purchases at higher levels.
On the other hand, PX stocks are depleting and there is a need to replenish some requirements immediately but buyers are offering it at $1000 per metric ton CFR mark and rejecting bids at $990 per metric ton CFR mark for prompt delivery, clarifying that the PX prices in Asia are on a recovery track, sources said.
March contract price were also being quoted between $1000 per metric ton and $1020 per metric ton CFR levels compared to $990 per metric ton quoted for February contract rates, sources revealed.
PTA prices drifted lower late last week. It is being speculated that the continuing slide in PTA will keep buyers away from offering higher price levels for PX.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
