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Paraxylene prices rise marginally in Asian markets

24
Aug '09
Zhengzhou, China PTA futures contracts traded in narrow range on August 21. Main contract 910 opened lower at 7,748 Yuan per ton, hit a high of 7,854 Yuan per ton, low of 7,702 Yuan per ton, to finally close at 7,750 Yuan per ton, a drop of 0.64 percent, from the previous day.

In the Asian petrochemical market, prices of Paraxylene rose marginally by US $1.25 to touch $1,082.25-1,083.25 per ton, FOB Korea. The European market closed at $978.25-982.25 per ton, FOB Rotterdam.

PTA spot market conditions were stable amid a slightly softening trend, market sentiment in the domestic raw materials in East China was cautious. Seller's offers were at 7,950 Yuan per ton, while downstream plants were more cautious and adopted a wait and watch attitude and main market prices focused at about 7,900 Yuan per ton.

Enquires from overseas markets showed a slight softening and offers for general cargoes were at $945 per ton, but buyers set an intention at US $940 per ton.

Fibre2fashion News Desk - China


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