12 October 2010 10:48 [Source: ICIS news]
SINGAPORE (ICIS)--Asian spot paraxylene (PX) prices hit their 17-month highs on Tuesday at $1,165-1,175/tonne (€839-846/tonne), on the back of surging values of downstream purified terephthalic acid (PTA), market sources said.
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Spot PX prices were last traded at such levels in early-May 2009, according to ICIS data.
PTA prices, meanwhile, were trading at 25-month highs of $1,020-1,040/tonne CFR CMP. Demand was strong as the polyester manufacturing season in the region is in full swing through to November, market sources said.
The bulk of PX and PTA production in Asia goes into the textile industry.
($1 = €0.72)
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