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PX prices bounce back. MEG market remains firm

28
Jun '10
Paraxylene prices bounced back and were assessed in between US $900-905/ton. Buyers remained firmly quoted their price around $895/ton. Speculators expected that PX oversupply problem will be resolved shortly.

PTA prices opened with positive sentiment. Current offer price was in the range of $860-855/ton. Buyers continued to pull down price towards $850/ton, while sellers pushed the price around to $860/ton.

Ethylene prices maintained a firm price range in between $870-875/ton in the S E Asian market. Selling intention was reported at $865-875/ton in S E Asian markets which was higher by $5/ton compared to last closing price.

MEG price in S E Asian market remained firm in the range of $715-720/ton. Downstream buyers continued to ask for lower price as their inventories were full and buying volume decreased. Trading price hovered around $717/ton.

In FG PET Chip, lower demand subdued the prices to around between $1110-1120/ton, while buyers asked for prices in the range of $1085-1095/ton.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India


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