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Asian PX firms up. PTA trends still weak

06
Jul '10
Firm upstream helped to boost up Asian Paraxylene market. Asian PX increased by US$ 5/ton today and was assessed in the range of US $840-845/ton.

According to experts, due to insignificant margins, PX producer may curtail their plant operational rate, but little change in regional production capacity would not affect long term production scenario.

PTA prices remained weak and offers were assessed around $845/ton. Trading price mainly concluded around $840/ton, buyers did try to pull it down to below $835/ton. Offers for Taiwanese goods were at $860/ton.

Ethylene prices continued to go down, Selling offer went down below $800/ton while buying sentiment declined below $790/ton. Trading price floated at levels of $795/ton.

MEG market sentiment was light, due to thin trading volume. Price range was around $705-710/ton as port inventory was high. Negotiated price was in the range $705-710/ton.

Since the debt crisis in Europe is still not resolved and while the Euro so far has devaluated by 14 percent against the RMB, textile and apparel exports from China to the EU may be adversely affected in the second half of 2010.

Click here to view and compare daily price trends.


Fibre2fashion News Desk - India


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