Prices of various major textile raw materials rose at the beginning of 2012. The good start created a certain impact on Chinese domestic markets.
However, the positive sentiments lasted for only a few days after which Chinese domestic textile raw material prices went on a declining trend in February.
However, only Paraxylene (PX) bucked the trend in February, being driven by crude oil market. Currently Asian PX price is around US $1640 / ton.
PTA market was in a watching state in February and is still based on adjustment. Current domestic offers are around 8,950 Yuan / ton and negotiated price for foreign cargo is around US $1190 / ton.
MEG market also continued its adjustment in February and now mainstream discussion price for domestic goods is around 8,200 Yuan / ton and of imported cargo around $1080 / ton.
These data indicate that upstream polyester raw material market is still under vulnerable adjustment mode.
Fibre2fashion News Desk - China
marketing@alchempro.com
