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Dull atmosphere continues in paraxylene market

13
Nov '08
Asian paraxylene market remained dull on the back of constant falling prices and lower demand from the up stream market. Even enquiries from the buyers was also on the lower side.

Therefore, on Wednesday, November 12, prices for December shipments were quoted at above $600 per mt CFR Taiwan/China. Lack of interest from the sellers' was quite visible and the market was closed at US $610-$630 per mt CFR Taiwan/China for December.

In downstream market, PTA spot prices further slipped to below $550 per mt CFR China level. Upstream PX market showed some stability, however, buyers were less confident over demands from the downstream market.

Bidding prices was at around $530 per mt CFR China level. However, offers from the sellers stood at $550 per mt CFR China. Market closed at around $530-550 per mt CFR China for November contract.

In the European region, paraxylene market witnessed less participation from the buyers halting the market activities. Spot market prices were only speculated to be at around mid-to-high $500s per mt FOB Rotterdam level for November.

Fibre2fashion News Desk - India


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