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PX & ethylene prices hike, MEG falls

29
Nov '10
Price hike in paraxylene was mainly due to firm energy market. PX rose sharply by US $50 / ton in S E Asian market and price stood at $1302 / ton. In Korean market, offer price too underwent a minor hike and was quoted in the range of $1275-1280 / ton. However, PX market is expected to decline in near future, due to poor downstream support.

PTA opened with sluggish sentiment and in S E Asian market, offers stood at $1155-1157 / ton. In last one week, PTA prices have declined by $25 / ton. PTA offers from Korean market were around $1145 / ton. In Chinese domestic market, offer was assessed in the range of RMB 9250-9400 / ton but market experts foresee, price is expected to decline to RMB 9000 / ton, in near future.

Ethylene price increased in S E Asian market and was quoted in the range of $1045-1050 / ton. In US market, ethylene price remained unchanged at 49.5 cents/gallon while in European market; it was around $1050 / ton and in European domestic market and price stood around €925 / ton.

MEG offers fell in the S E Asian market. After a period of 25 days, MEG price once again fell below $1000 / ton and selling offers were quoted in the range of $995-997 / ton. In Chinese market, MEG offers were assessed around $995 / ton and in Chinese domestic market, offer price stood around RMB 7900 / ton.

Offers for BGPET Chip in S E Asian market were in the range of $1475-1500 / ton. In export market, counteroffers were around $1490 / ton. In Chinese domestic market, offers stood around RMB 12000 / ton.

FGPET Chip was available in the range of $1600-1615 / ton, in S E Asian market.

Click here to view and compare daily price trends.

Fibre2fashion News Desk - India


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