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Polyester chain: values plunge across chain

Polyester chain: values plunge across chain Source:
Date: 12-03-2013
Visits: 290
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Ethylene prices weakened in Asian markets due to fading downstream demand.

Upstream naphtha was also cheaper easing cost pressure on the ethylene chain.

In Europe, spot ethylene prices responded to the lower price environment by moving down. In US, spot ethylene marginally changed, moving up a quarter-cent week on week.

Asian paraxylene prices plunged dramatically amid persisting bearish sentiment. Downstream was also subdued erasing demand potential.

European spot paraxylene prices also declined tracking Asian prices fall and bearish and cautious market tone. US spot paraxylene declined on slow demand.
Mono ethylene glycol prices edged down in a thin trading activity. In US, MEG offers were heard moving slightly lower as supply tightness continued to ease.

Selling pressure in the Asian purified terephthalic acid market continued, with prices in China falling. PTA market sentiment in other Asian markets also remained bearish throughout the week.

PTA spot market fluctuated in a narrow range this week as March paraxylene contract price nominations remained inconclusive. Asian polyester chips markets saw prices plunging amid rapidly falling raw materials paraxylene and PTA values.
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