Paraxylene price went up with support of firm downstream. In S E Asian market, price surged to US $935 / ton, whereas in Korean market, closing prices increased to $942 / ton, while in Taiwanese market, price was around $935-940 / ton.
Firm market fundamentals worked today, due to which PTA went up in S E Asian market. Offers for PTA were in the range of $885-890 / ton. Cargoes imported from Taiwanese were quoted at $885 / ton and offers from South Korea were in range of $870-875 / ton.
Ethylene continued to gallop high, but market experts now expecting a firm correction. Price of ethylene stood at around $980-985 / ton in Asian markets. In the European market, ethylene was assessed in the range of $112-1135 / ton. In US market, ethylene was priced at around 42 cents / pound.
After consolidation MEG price has once again spurted. In the S E Asian market, sellers tried to push the price to $795 / ton, but buyers struck to around $785 / ton. In Chinese domestic market, situation was better as buyers increased their buying range to RMB 6400-6450 / ton, up RMB 50 / ton.
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Fibre2fashion News Desk - India
marketing@alchempro.com
