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Worldwide petrochemical market round up

25
Jan '10
According to a market report, March contract of West Texas Intermediate Crude Oil (WTI) fell US $1.66 to $76.08 per barrel on January 22, Brent reduced by $1.74 to $74.58 per barrel and prices of naphtha declined by $5 to $718-725 per ton (CFR Japan).

In the Asian market, Paraxylene shrank by $4 per ton to $1,096-1,097 per ton (FOB Korea); European market stabilized at $1,080-1,084 per ton (FOB Rotterdam) and in the US market it stood at $1,090-1,095 per ton (FOB US Gulf).

As it was towards the end of week, coupled with the weakness of PTA futures, offers from sellers were moderate. In the Chinese market there were few offers at 8,100 Yuan per ton, as most polyester manufacturers remained cautious.

Negotiations for spot goods made in South Korea remained at around $950-960 per ton and negotiations for PTA Taiwanese spot goods, hovered around $965-970 per ton, as most polyester plants adopted a wait and watch attitude.

Fibre2fashion News Desk


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