Asian PTA prices were down US$9 a ton CFR China and CFR Southeast Asia in the third week of November. In China, offers for nearby-month goods values were slightly down from last week.

Purified terephthalic acid prices weakened in Asian markets on tepid and weaker futures pushed Chinese prices lower. Trade activities were thin. In China, the previous week’s uptrend did not continue into that week. Domestic PTA market was affected by the huge changes on PTA futures, which returned to the same level as before market prices moved up.

In Europe, PTA contract price remained unchanged, as fundamentals were largely stable with normal deliveries resuming from PKN Orlen earlier in the month.

In US, PTA November pricing remained unsettled although paraxylene pricing had edged higher last week, tracking gains in Asia.

Courtesy: Weekly PriceWatch Report