An old saying goes like this. “When the US sneezes, the rest of the world catches a cold”. The same idiom now applies crude oil and its intermediates.
Paraxylene prices corrected after the short term bullish trend. Prices have now fallen to between US $915-910 / ton in S E Asian market.
In tandem with upstream market trends, PTA price also declined and was trading in the range of $830-850 / ton. Consumption the in Asian markets too is declining.
Price of ethylene continued to fall down, and as per expectation price went down to $975 / ton. In N E Asian market price fell to between $980-985 / ton.
MEG prices remained unchanged, due to poor availability and despite of decline in allied polyester raw material. MEG price continued to hover around $750-755 / ton.
Selling offer for FG PET Chip was in the range of $1,160-1,180 / ton.
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Fibre2fashion News Desk - India
marketing@alchempro.com
