Asian PTA markers edged up US$1 a ton CFR China in the last week of August. In China, offers for nearby-month goods felt to US$605-610 a ton, and buyers countered offers was at US$600 a ton.
Purified terephthalic acid prices were stable to softer amid thin trade in Asian markets. Upstream cost support also eased with paraxylene cost moderating somewhat. Yisheng Petchem shuts its Ningbo plant for G20 while it has planned turnaround at Hainan unit in September.
In Europe, weakness persisted in PTA fundamentals seeing limited upside. Monthly contract price remained flat amid no settlement made for September feedstock.
In US, August PTA price was down from July and was within market expectations. Demand remained steady due to healthy consumption from PET bottled beverages, although not so robust.
Courtesy: Weekly PriceWatch Report
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