The petrochemical chain saw feedstock rates shuffle during the week, leading to rise in PTA-PX margin and a decline in PVC-Ethylene core delta. Latest quotes suggest core delta of PolyVinyl Chloride (PVC) settled 1% WoW lower at USD498/ton
PVC stood unchanged at USD860/ton while ethylene notably rose by USD10/ton to USD725/ton, up by 1% WoW. The rise in ethylene rates came on the back of restricted supplies in the region.
The latest data on margin remains neutral for Engro Polymer and Chemicals Pakistan Ltd (EPCL).
On the other hand, Purified Terephthalic Acid (PTA) - Paraxylene (PX) margin for the week rose 14% or USD13/ton WoW to USD106/ton. The surge in margin was a consequence of lower PX rates.
PTA prices were reported at USD625/ton, unchanged for the week while PX rates stood 3% WoW lower at USD780/ton. The latest data on margin is positive for Lotte Chemical Pakistan Ltd (LOTCHEM) as margins rebounds towards its long term average.
Polyester Staple Fibre (PSF) margins stood flat at USD324/ton owing to stable PSF and PTA rates. Mono-Ethylene Glycol (MEG) prices were seen at USD590/ton, down USD5/ton or 1% WoW. PSF prices were noted at USD1,069/ton.
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