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Dull atmosphere dominated Para-Xylene Market in Europe

05
Sep '08
On Thursday, September 4, Asian paraxylene market slipped lower than US $1300 per ton in line with weaker MX and PTA markets. Market sentiment has softened with lesser demand.

Offer price from the sellers stood at $1300/mt for CFR Taiwan/China for October. However, buyers refrained from showing any buying intentions. On the whole market looked quite laid back on this day. The market closed at $1270-$1300/mt CFR Taiwan/China reflecting a fall by $30 per ton for October contract.

On the other hand, in downstream, PTA spot prices further retreated due to inactivity from the buyer's side. Offer price from sellers stood at lower than $990 per ton while RMB market prices also softened to close at around 8100 per ton.

In the European region, paraxylene market continued to be dull due to lack of optimism in the market. Throughout the day, market remained static. Thus, market closed with prices stood with in the range of $1220-$1270 per ton FOB Rotterdam for September contract.

Fibre2fashion News Desk - India


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