PTA producers managed to lift price, but spot relents

News Tags: daily polyester prices, daily yarn prices, latest textile prices, MEG prices, paraxylene prices, Polyester prices, polyester staple prices, PTA prices

Mumbai
PTA producers managed to lift price
Summary: 
Asian PTA prices gave back some of its recent gains despite continuous soaring feedstock paraxylene prices since early May (0.66 unit paraxylene required to produce 1 unit of PTA). The tighter domestic PTA market in China was found easing in the week ended 20 June.

Asian PTA prices gave back some of its recent gains despite continuous soaring feedstock paraxylene prices since early May (0.66 unit paraxylene required to produce 1 unit of PTA). The tighter domestic PTA market in China was found easing in the week ended 20 June. Sinopec restarted its four PTA plants across China on 18 June, boosting paraxylene sentiment as demand will resume from these four units, hence prices soared in the week. The contract price for PX in Asia failed to reach a settlement for June, the eighth time in the last 10 months leaving PTA makers to enter spot.

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