Polyester Intermediate Market Prices in Asia

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29 December 2008 - For the first time in months, the paraxylene market was disconnected from the oil market in the last week, experiencing a sharp increase in Asia while crude futures were declining in New York. This is a new sign that a significant reduction in Asian production will offer some support to prices in the near term. On the other hand, poor demand from downstream processors may rapidly limit any rise in prices, as already observed on the PTA market in the last week.

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