Paraxylene prices reduced drastically in line with poor performance in the energy market. PX reduced by US $15/ton to $1035/ton in S E Asian market. Speculators expect a further fall, as currently there are no buyers in the market.
PTA prices too fell down as demand turned weak and supply remained at a standstill. In S E Asian market, PTA was assessed in the range of $965 - $960/ton. In Chinese domestic market, price hovered around RMB 7,850/ton.
Ethylene declined marginally in tandem with upstream trends. Despite tight supply, S E Asian price slide down to between $1055 - 1050/ton. In N W European market, price is expected to hover around $1125/ton.
MEG declined further by $10/ton. Buyers continued to pull down offer rate to $865/ton. In Chinese domestic market, price was in the range of RMB 7,150 – 7,200/ton.
FG PET Chip bright and SD maintained weak trend. CDP slice also turned weak. Price remained in the range of $1155 - 1150/ton. In Chinese domestic market price was around RMB 10,000/ton.
According to the Chinese Customs statistics, in February 2010, China imported polyester chips totaling to 125,499 tons, amounting to $226 million. In the first two months of 2010, total imports reached 293,160 tons, with import value touching $521 million.
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Fibre2fashion News Desk - India
marketing@alchempro.com
