Paraxylene prices reduced drastically in the last two days. Asian PX further reduced by US $10 / ton to $1040 / ton. Price in Europe, Rotterdam market was around $1,045 / ton and in US market price was at $1,015 / ton with a decline of $10 / ton.
PTA prices fall down further, weak upstream and fluctuations in the financial market made PTA market frail. PTA in S E Asian market hovered around $965 / ton to $955 / ton.
FG PET Chip bright and SD maintained weak trend, CDP slice also turned weak. Price remained in the range of $1,155 / ton to $1,160 / ton.
Price of Ethylene increased after the news was confirmed about fault in the Mitsui cracker plant in Japan. Supply turned further tight as news arrived that a Iranian ethylene producer is also facing problems in cracker, which pushed up the prices.
In S E Asian market, price increased to $1,060 / ton to $1,055 / ton. Market experts believe that ethylene prices in Asia will continue to maintain high oscillation.
Market activity in MEG declined, as buyers continued to ask for poor rate of around $875 / ton. In Chinese domestic market, price was in the range of RMB 7,350 / ton to RMB 7,450 / ton.
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Fibre2fashion News Desk - India