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PX prices for March on a rise

06 Feb '06
1 min read
Paraxylene is a refinery product primarily used as a feedstock material for producing other products such as purified terephthalic acid (PTA).

Paraxylene (PX) prices were firm with traders sticking to high rates expecting increased demand post Chinese Lunar Holidays.

Sources informed that the demand is expected to grow as a result of surge in energy and crude values.

Chinese Holidays coming to an end is expected to raise demand for derivative products in domestic markets.

Traders believe that the rising demand for downstream PET will ensure PTA prices remain firm at current high levels.

PTA is used as the main raw material for most polyester fibers.

March PX contract prices are pegged at range US $990 - $1000 per metric ton FOB.

Chinese polyester demand is also expected to grow in the coming weeks.

Polyester fiber is used in the textile and tire industries and used in the manufacture of other polyester products.

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