In the past week, ethylene prices in Asia and the United States rose considerably despite an increase in supply from South Korea and Japan. Cracking plants are working at full capacities in order to meet increasing demand.
In Europe, ethylene prices rebounded after experiencing a decline in the last week. In Asia and Europe, Paraxylene prices rose again and for the first time in six months, crossed the US $1000 per ton mark, supported by strong demand.
This week, ethylene price rose by $75 per ton in Europe and by $40-45 per ton in Asian markets. In Asia, MEG and PTA prices also followed suit. MEG for May futures rose to $600 per ton and PTA price also closed near the $900 per ton mark.
PTA price is expected to increase due to shortage of Paraxylene and a recovery in demand from the downstream polyester production sector. PET slice prices also increased once again this week, due to price increases in PTA and MEG and strong demand from polyester units.
Fibre2fashion News Desk - China
marketing@alchempro.com
