Asian Paraxylene had a very compressed margin; price went down below US $835/ton in the S E Asian market while, PX imported from Korean market was offered around $830/ton and PX imported from Taiwanese market stood at $840/ton.
In PTA market, spot prices tumbled down due to poor upstream as well as wait and watch stance of downstream buyers. Selling offers were in the range of $837-845/ton. However, buying offer was below $840/ton.
Ethylene price declined and in S E Asia, price was in the range of $795-800/ton. News that, in the long term, M E Asia would continue as a cheap ethylene supplier shocked the domestic market, which inevitably, resulted in a sharp drop in prices of raw materials.
MEG market declined in tandem with other PET feedstock material. Trading price declined by $5/ton and was quoted in the range of $705-710/ton. In the Chinese domestic market, traded price was RMB 5,800/ton, while offers were around RMB 5,900/ton.
FG PET Chip further reduced by $10/ton and was assessed below $1,050/ton today.
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Fibre2fashion News Desk - India