Asian PX prices stage recovery, Taiwan leads the rally
14 Dec '05
1 min read
Asian Paraxylene (PX) prices scrambled to recover as sellers turned to tighten their prices with upstream crude values igniting a rally of a sort, Monday. Spurt in inquiries at the sellers end led to PX cargoes for January deliveries showing encouraging signs of recovery on widespread basis, throughout Asia. Worldwide PX prices are pegged higher, and hence Asian PX quote seems to be on the path to recovery in case of Paraterpthalic Acid next month, spurring the derivative markets as a consequence.
Buyer bid opened at US $920 per metric ton CFR levels to cross $940 per metric ton CFR mark. Surprisingly, Taiwan market crossed Asian level to breech at $950 per metric ton CFR mark in face of heightened buyer activity there.
marketing@alchempro.com
