PX prices currently remain low due to poor the demand trend. PX prices stood around US $850/ton but were mainly traded around $840-845/ton in the S E Asian market. Market experts firmly believe that very soon price will surge beyond $850/ton.
The current pressure on PTA producers is still large. Producers are motivated by profit and highly keen to maintain a high production rate. In Asian market, price of PTA was $835-840/ton.
In S E Asia, ethylene spot market price declined by $5/ton and was assessed in the range of $790-795/ton, while in US domestic market it was quoted at 32.9 cents/pound.
MEG trends turned better with increase in enquires. Sellers offered MEG around $700/ton; cargo mainstream quotation was $690-695/ton while, trade was mostly concluded at $687/ton.
In June, man-made fiber production in Japan increased by 20.9% to 84,450 tons.
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Fibre2fashion News Desk - India
marketing@alchempro.com
