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PX prices show declining trend in Asia

29 Apr '06
1 min read
Asian Paraxylene (PX) price decline of Thursday has continued today.

Falling energy prices have made buyers to step back.

Week long labour holidays in China would further slowdown buying activity and cap bullish sentiments across PX markets.

Sources said, unsettled May contract prices for Asia coupled with volatility in energy prices have presented a confusing scenario.

These are presently at levels between US $1050 per metric ton CFR to US $1060 per metric ton CFR which is likely to settle at much lower levels.

Once prices get settled, trade will look up thereafter.

Prices are expected to get settled later in the day today, market sources believe.

PTA and upstream isomer grade MX prices are being quoted lower in the region, he added.

Traders are not prepared to come forward with firm bids and would wait for markets to take a firm direction.

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