PX prices rise in tandem across global markets last week

In Korea, PX prices opened at US$ 1375/ton FOB Korea last week, higher by US$ 60/ton as compared to the same period of its previous week. During the week, PX prices were spotted at US$ 1375-1460/ton FOB Korea.

In S.E. Asia, PX prices showed similar trend as Korea last week. In the initial days of the week under review, prices were at US$ 1395/ton, higher by US$ 60/ton as compared to the same period of the previous week. Prices hovered in the range of US$ 1395-1480/ton CFR S.E. Asia during the week.

In Europe, PX prices surged up in the last week due to strong buying trends coupled with higher PX prices in Asia and US.

In the initial days of the week, European prices were assessed at US$ 1285/ton, higher by US$ 45/ton as compared to the same period of its previous week. PX prices were assessed during the week at US$ 1285-1350/ton FOB Rotterdam.

Initial contract prices for June were settled at € 930/ton FD NWE, higher by € 30/ton as compared to that of May.

In US, PX prices showed similar trend as Asia and Europe. In the initial days of last week, prices were assessed at US$ 1300/ton, higher by US$ 60/ton as compared to the same period of its previous week. Speculators witnessed the spot prices of PX at US$ 1300-1365/ton FOB US.

Fibre2fashion News Desk - India