Market fundamental of Paraxylene turned weak. Mainstream manufacturers in the industry are predicting that, during the third quarter PX would go down below $800/ton. In Asian market, PX was steady in the range of $835-850/ton.
PTA price in the Asian market was range bound in between $845-850/ton. Sellers kept their prices in range of $845-860/ton but was traded around $855/ton. Korean spot offers were around $845/ton.
Ethylene price plunged down in Asian market, In N E Asia it was around $840/ton while in S E Asian market it was around $790-800/ton. In US market, price was around 30.25-30.5 cents/pound. In European market, price was in the range of $995-1000/ton.
In MEG market, the general trading atmosphere of transactions was sluggish, negotiations in Chinese domestic market were at RMB 5,900/ton and imported MEG was quoted at $700/ton.
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Fibre2fashion News Desk - India
marketing@alchempro.com
