PX & PTA prices decline. Ethylene stable

13 Jul '10

2 min read

Asian Paraxylene declined due to overnight bearish trend in the upstream and was quoted at US $840 / ton in the S E Asian market, while in F E Asian market PX was steady in the range of $835-845 / ton.

In PTA market, buyers were not optimistic about future economic growth, remained cautious, while the feedstock went down, PTA spot prices too tumbled down, and offers were in the range of $845-850 / ton.

Ethylene price remained at standstill as Formosa fire cracker is expected to be shut down for atleast 2-3 months. In all Asian markets, supply was at a standstill, but weak downstream demand and wait and see attitude, arrested the price in the range of $800-805 / ton.

In MEG market general trading improved, in the range of $720-725 / ton. Trading price of bonded goods was in the range of $715-720 / ton.

Meanwhile, Chinese textile and garment exports have accelerated in the first five months of 2010. Apparel exports touched $53.23 billion, up 16% over the same period of 2009 and textile yarn, fabrics and products exports touched $35.65 billion, up 32.3%.

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Fibre2fashion News Desk - India

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