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Px-naphtha spread at 2014 peak in Asia, European makers better off

Nitin Madkaikar

Related Keywords: daily textile prices, naphtha price, Paraxylene price in asia, Paraxylene price in Europe, Paraxylene price in USA, polyester chip price, polyester fibre price, polyester filament price, PTA prices

Asian contract price for paraxylene (Px) once again failed to reach a settlement for June, for the eighth time in the last 10 months. Meanwhile, spot prices have jumped US$145 during June, the second highest monthly gain in 24 months. In June prices surged throughout the month on active short covering for July. They are now at their 2014 peak.

Bullish feedstock sparks polyester chain, PTA-MEG rises further

Nitin Madkaikar

Related Keywords: ethylene price, MEG price, paraxylene price, polyester fiber price, polyester filament price, Polyester prices, PSF, PTA price

Asian ethylene markets were on the bullish note in the week ended 23 May as spot supplies tightened amid a lack of regional supply, supporting prices to rise. The markers rose US$12 a ton CFR Northeast Asia while South Korea marker was up US$5 a ton. Meanwhile European spot ethylene market tracked increase in naphtha values and ended at a six-week high, up Euro12.50 a ton FD NWE on the week. In US, spot ethylene prices recovered US cent 0.75 per pound despite thin trade while the market discussed producers preparing for third-quarter turn around.

Paraxylene Naphtha spread back to mid 2010 levels

Nitin Madkaikar

Related Keywords: daily textile prices, Paraxylene price in asia, Paraxylene price in Europe, Paraxylene price in USA, polyester chip price, polyester fibre price, polyester filament price, PTA prices

There has been no contract price settlement for paraxylene in Asian market since February this year and the spot is used to peg derivative PTA values. Japan's JX Nippon Oil and Energy although finished its negotiations for the May Asian Contract Price for paraxylene but could not reach a settlement. Meanwhile spot paraxylene prices dropped US$70-75 a ton in March only to recover partially in April. In Europe too, May contract failed to settle while March and April saw spot numbers losing over US$80 a ton.

Rising in paraxylene prices did not help polyester fibre

Nitin Madkaikar

Related Keywords: ethylene price, MEG price, paraxylene price, Pet price, polyester chip price, polyester fibre price, polyester filament price, PTA price

Demand for paraxylene has apparently rebounded a bit in the week of 21 March and prices were up in Asian markets. Hwever, in Europe paraxylene spot price was assessed down as the market was in bad shape, no demand and prices low. Purified terephthalic acid, a derivative of paraxylene, saw prices rising in Asia amid operating rate cuts by Chinese PTA producers and cost support. The markets warmed up a little and offers for cargoes were maintained above previous week’s level. In Europe, production rates for PTA increased recently, but were still low as demand remained weak.

Polyester chain prices seen crashing down rapidly last week

Nitin Madkaikar

Related Keywords: ethylene price, MEG price, mono ethylene glycol price, paraxylene price, polyester filament price, Polyester price, polyester staple price, PTA price, purified terephthalic acid price, spun polyester price

As bearish sentiments continue to cast dark covering over the entire chemical fiber industry, prices of most varieties are hitting 11-year low. Producers are caught in great losses and the downtrend is predicted to extend for some more time. For immediate relief, manufacturers may successively start cutting production or plan turnarounds forcing supply tightness to support prices.

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