Paraxylene (PX) prices opened steady in Asia today continuing the previous week's trend in face of uncertainties in recovery of downstream polyester sector.
The steadiness in PX prices was due to strengthening of upstream isomer grade MX values.
PX supply position remained constrained and a boost in trading activity was expected due to starting up of new downstream PTA plants in the region in the weeks ahead.
Sources this morning informed that prices are presently being quoted between $965 and $975 per metric ton FOB levels.
But some sellers are quoting offers at $980 per metric ton FOB Korea levels and above on the back of an expected rise in market fundamentals.
There are unsubstantiated indications of rise in China's polyester markets surfacing in Asia.
If buyer activity lifts, then sellers would benefit and PX price offers would then climb up during April.
Meanwhile, contract price for April PX last week were quoted around $1000 per metric ton CFR Asia mark.
marketing@alchempro.com
