The free fall in PX prices has ended and prices turned stable at around US $950 / ton. In Korean market, PX was quoted in the range of $950 – 955 / ton, while in the European market price was around $1,000 / ton.
PTA market turned stable, due to the firm wait and watch stance prevailing in the market. Selling offers hovered around $860 / ton. Korean goods in cash offer were still around $855 / ton, up by $5 / ton.
Ethylene prices too improved, due to stable upstream markets. In N E Asia, the prices closed at between $1,275 – 1,280 / ton, while in the S E Asian market the price closed at $1,235 – 1,240 / ton.
In S E Asian market MEG price moved northwards in the range of $755 – 760 / ton, due to which, selling offers increased, Speculators expect a bounce back in the MEG price in near future.
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Fibre2fashion News Desk - India
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