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Ethylene prices bounce back. MEG stays unchanged

12
Jul '10
Asian Paraxylene opened with firm sentiment and was quoted at US $850 / ton in the S E Asian market, while in F E Asian market; PX was steady in the range of $845-855 / ton. However, according to speculators, even short-term PX prices expected to cross $900 / ton.

PTA prices found good support from the upstream and was sustained in the range of $850-855 / ton. In Chinese domestic market, PTA maintained the level of RMB 7,050 / ton, but confidence was fragile.

Ethylene price bounced back due to Formosa crisis. In N E Asian markets, price was around $900 / ton; while in S E Asian market price was around $800-805 / ton.

In MEG market, general trading was unchanged in the range of $710-715 / ton. Offer price for bonded goods was quoted between $720-725 / ton, while counter offer was in the range of $705-715 / ton.

FG PET Chips opened with weak market sentiment. Trading price hovered in between $1,050-1,060 / ton, whereas sellers maintained firm stance at $1,070 / ton.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India


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