Asian PTA prices were down US$22 a ton CFR China and CFR Southeast Asia in the second week of April. Yisheng Petrochemical’s selling price inched down US$5 a ton while Hengli Petrochemical’s selling price rolled over on the week.
Purified terephthalic acid prices declined in Asian markets as the energy complex and feedstock markets weakened. In China, domestic PTA market extended the healthy trend of previous week with futures under upward adjustment. Spot offers and goods on warehouse receipts were lower. Even the news about the maintenance of paraxylene units did not pull PTA market in opposite direction.
In Europe, April contract price edged lower tracking the average decline in the April ECP settlements of paraxylene. Contract price for April edged Euro25 a ton FD NEW lower on the week.
In US, reduction is PTA March pricing was expected with the decline in paraxylene sentiment and falling downstream PET on softening demand.
Courtesy: Weekly PriceWatch Report
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