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PX displays firm fundamentals, MEG trends bearish

19
Jul '10
Asian Paraxylene opened with firm fundamentals as upstream market maintained high price. PX was offered around US $850/ton but mainly traded around $840-845/ton in the S E Asian market.

Asian PTA market has not changed much. Taiwanese PTA stock was discussed around $855/ton, S Korean PTA was offered at between $830-840/ton, but talks were still around $835/ton.

In S E Asian spot market, ethylene prices were stable in the range of $795-800/ton. In European ethylene market, price was in the range of $860/ton while in the US export market it stood at $875/ton while in US domestic market, it was 31 cents/pound.

MEG market continued to remain bearish. Price went down to $690/ton. In the Chinese domestic market, traded price was RMB 5,720/ton while, offers were around RMB 5,750/ton.

In FG PET Chip, offers prevailed in the range of $1070-1080/ton while trading hovered around $1060-1070/ton.

Click here to view and review daily price trends.

Fibre2fashion News Desk - India


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