PTA price declines amid weak market sentiment

YarnsandFibers News Bureau 2015-10-30 07:19:28 –

Asian PTA prices moderated US$12 a ton CFR China in the third week of October.

In China, suppliers kept offers at US$620-640 a ton, and buyers pegged counter offers at US$590-600 a ton.

Some deals concluded at US$600-610 a ton, midweek.

Yisheng Petrochemical’s cash-based prices for this week were in the range of US$630-640 a ton, while Hengli Petrochem issued self-lifting offers in the range of US$640-645 a ton.

Asian purified terephthalic acid markets, which had firmed up after the National Day holiday in China, saw prices down in that week.

Trading in polyester market was weak compared with last week amid lackluster sentiment.

Central market prices changed little throughout the week dropping on Tuesday to stay steady through the week.

Only few polyester producers purchased PTA, and deals were mostly sealed between suppliers and traders.

Courtesy: Weekly PriceWatch Report

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