Karachi: PVC-ethylene margins have surged to an 18-month high, reaching $376 per ton in February 2026, marking a 25% year-over-year increase from $287 per ton in the same period last year. This escalation in margins was primarily driven by a rise in PVC prices, which averaged around $712 per ton during the month, representing a 29% increase compared to the previous month.
According to JS Global, the PTA-PX margins experienced a decline, averaging $57.5 per ton month-to-date, down from $87.8 per ton in February 2025. This decrease is attributed to a sharper increase in PX prices, now at $910 per ton, compared to PTA prices, which stand at $660 per ton. The resulting compression in margins is impacting PTA producers, including LOTHCEM.
Market conditions in the near term are anticipated to exert pressure on petrochemical margins compared to historical trends, as demand recovery remains inconsistent and oversupply issues persist. Sustainable improvement in margins will rely on stronger global demand, stability in feedstock costs, and potential measures to rationalize supply.
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