Mono ethylene glycol prices in Asian markets declined in the first week of August as traders turned increasingly bearish amid falling crude oil, which depressed prices of polyester feedstock. Markets were spooked further by reports of the huge inventory built up in east China inventory, which was attributed to low operating rates at Chinese polyester industry.
Polyester feedstock and intermediate prices on the rise despite China on holiday
Related Keywords: ethylene prices, MEG prices, mono ethylene glycol prices, paraxylene prices, Polyester price, PTA prices, purified terephthalic acid prices
Polyester feedstock – ethylene and paraxylene and intermediates – purified terephthalic acid and mono ethylene glycol, prices are moving up now. In the week ending 20 February, although the major producer and consumer China was on a long Lunar New Year holiday prices strengthened during the week. It all began with crude oil prices recording three consecutive weeks of gains, both US futures and European Brent. Since end of January, oil prices have gained 13 per cent on news of falling rig counts in US. This led to support to downstream derivative naphtha markets.
PTA producers managed to lift price, but spot relents
Related Keywords: daily polyester prices, daily yarn prices, latest textile prices, MEG prices, paraxylene prices, Polyester prices, polyester staple prices, PTA prices
Asian PTA prices gave back some of its recent gains despite continuous soaring feedstock paraxylene prices since early May (0.66 unit paraxylene required to produce 1 unit of PTA). The tighter domestic PTA market in China was found easing in the week ended 20 June. Sinopec restarted its four PTA plants across China on 18 June, boosting paraxylene sentiment as demand will resume from these four units, hence prices soared in the week. The contract price for PX in Asia failed to reach a settlement for June, the eighth time in the last 10 months leaving PTA makers to enter spot.
Ethylene firms up entering 2014, paraxylene moderates in Asia
Related Keywords: ethylene price, MEG prices, paraxylene prices, Polyester prices, PTA prices, weekly textile prices
Ethylene prices were firmer in Asian markets amid tight regional supply and warming up demand in the week of 3 January. The markers rose US$20-30 week on week to be assessed at US$1,519-1,521 a ton CFR Northeast Asia and US$1,474-1,476 a ton CFR Southeast Asia. In Europe, ethylene markets were quieter and prices mostly rolled over while ample supply moderated ethylene prices in US.
Polyester spun yarn prices stable as markets roll over
Related Keywords: ethylene price, MEG prices, paraxylene price, pfy price, Polyester prices, polyester spun yarn, psf price, PTA prices, yarn prices
Last week, the polyester spun yarn markets remained tepid with limited new orders as buyers awaited for signal from the upstream fibre markets. In China, offers changed marginally, but transaction weakened. PSF prices briefly rolled over, with the central level
