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PX traders forced to revise offers as buyers unmoved
Textiles
PX traders forced to revise offers as buyers unmoved
06 Mar '06
1 min read
Sources reported that slow demand in the downstream sector and upstream energy markets is adversely affecting Paraxylene (PX) markets in Asia.
While the buyers are delaying the their purchases foreseeing further drop in prices, traders are defending their offers at high level.
Contract offers for April are pegged at as high as US $970 per metric tons last week.
However, traders are unable to generate enough buying interest as the buyer bids stand below $950 per metric tons.
Sources say traders are under tremendous pressure to lower their offers.
Asian PX markets opened today US$940-950 per metric ton ex Korea.
More Textiles News - Asia...
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