Asian Paraxylene market was range bound in between US$830-835/ton. Price was assessed in the range of $830-835/ton in the S E Asian market.
Meanwhile PX production in Asia will nearly double by 2011 from that in 2009. According to available statistics, PX production in 2009 stood at 5.22 million ton.
In 2010, it is expected to reach 7.02 million tons and by 2011, it is estimated to touch 9.97 million tons.
There was not much change in the Asian PTA market. Taiwanese PTA stock was discussed around $855/ton and S Korean PTA was offered at $830-840/ton, talks were still around $835/ton.
In S E Asian spot market, ethylene prices were stable in the range of $795-800/ton. In European market price was in the range of $840/ton while in the US market it was around 31 cents/pound.
MEG market was bearish due to oversupply situation. Price went down below $700/ton. In the Chinese domestic market, traded price was RMB 5,800/ton while offers were around RMB 5,900/ton. Speculators still expect further price fall in near future.
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Fibre2fashion News Desk - India
marketing@alchempro.com
