Strong upstream energy prices led to a slight rise in Paraxylene (PX) prices in Asia.
After a long dullness in the markets this is considered to be a pleasant change.
While seller offers are pegged at around US $975 per metric ton, the buyer bids stand between $955-960 per metric ton CFR Taiwan levels.
However, April contract prices are likely to stand at around $990 per metric ton CFR mark.
Sources report that several deals for March were concluded at levels below $950 per metric ton.
Experts believe that if the polyester markets improve with rising demand then the PX and PTA markets will also be affected and the PX prices can be expected to reach $1000 per metric ton mark.
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