Paraxylene Asia polyethylene terephthalate
Paraxylene buyers in Asia voiced counter offers at USD990-1 020 per tonne
MOSCOW – Several paraxylene buyers in the Asian market put forward their counter-proposals for the March contract price of material at USD990-1 020 per ton, market sources told ICIS on Thursday.
Earlier this week, Asian paraxylene manufacturers nominated their March contract prices at USD1,190–1,210 per tonne, CFR Asia.
The February contract price of paraxylene in the region was agreed at around USD1,050 per tonne, CFR Asia.
According to ICIS, paraxylene spot prices for February 27 in Asia were in the range of USD1 108-1 110 per tonne, CFR China / Taiwan.
Paraxylene is used as a raw material for the synthesis of terephthalic acid (TPA), an intermediate product for the production of polyethylene terephthalate (PET).
According to the ICIS-MRC Price Review , a period of price stability continues on the Russian spot PET market. Expected to maintain current spot prices until the end of the month. The demand for material is low. There is a high probability that prices for spot buyers will not rise significantly until the end of the first quarter. The prerequisites for this are the creation of stable PET prices in foreign markets and the relative stability of the ruble exchange rate.
Author: Margarita Volkova