After a quick price hike, Paraxylene went into a correction mode. Price hovered around US $920 / ton in Korean market. While in Taiwanese spot market, PX was quoted at $930-935 / ton, which was realized around $930 / ton.
In tandem with poor upstream, Asian PTA market dwindled down by $10 and was assessed in the range of $870-875 / ton. Korean PTA was offered in the range of $845-855 / ton, while trading price was around $850 / ton. In Chinese domestic market, PTA was priced at RMB 7225 / ton.
Asian spot ethylene prices remained more or less the same. In N E Asia, offers hovered in the range of $900-905 / ton but realized around $870 / ton only. In the S E Asian market, price stood around $860-865 / ton. In European market, price was assessed in the range of $1010-1020 / ton.
Due to poor market fundamentals, MEG prices declined marginally by $3. Selling offers still emerged with price tag of $780 / ton, whereas, deals concluded between $775-777 / ton. Chinese spot glycol market was stable and trading price was in the range of RMB 6400-6450 / ton and selling offer was around RMB 6600/ton.
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Fibre2fashion News Desk - India
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