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(yarnsandfibers) -- Ethylene
prices remained flat amid thin spot trading activity as major markets were
closed for a major part of the week. China was on holiday Monday to Wednesday,
while Taiwan was closed Wednesday. The US spot was mostly steady while European
contract steam cracker margins for April turned positive following the increase
in the ethylene April contract price. Paraxylene was cheaper in Asia and US on
thin trading amid tight supply.
Mono ethylene glycol prices sank in Asian markets, hit by weak polyester
market and high inventories. Trading was weak after the Tomb-sweeping Day
holiday in China, but MEG market tends to hold stable at low prices. Purified
terephthalic acid markets were dull and prices declined on thin trading amid
hard to improve downstream polyester markets. In Europe, the market for PTA in
NW Europe appeared set to move from balanced to long in the coming months as
Artlant PTA announced it had begun delivering PTA from its in Sines, Portugal.
Polyester chip markets in Asia remained under flat correction as feedstock,
PTA and MEG prices showed sluggish trend, but were seen picking up later in the
truncated week. The markets were more active supported by post-holiday
small-volume restocking activities. |
