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PTA price edges up in Asia while stable in Europe

YarnsandFibers News Bureau 2015-10-16 05:20:11 –

Asian PTA markers inched up US$2 a ton CFR China in the last week of September.

In China, potential negotiations were pegged at US$575-580 a ton.

Yisheng Petrochemical cut its price for PTA by US$10 ton, but no enquiries on the week. Hengli Petrochemical issued self-lifting offers at US$620 a ton.

Purified terephthalic acid prices edged up this week amid thin trading and weak polyester demand.

However, operating rates at several downstream PET and polyester plants in China had reportedly improved but this did not led to significant demand for spot or prompt cargoes.

In US, the PTA market was awaiting settlement of feedstock paraxylene contract for September. The contract represents the key variable in PTA pricing, which is expected to decline.

In Europe, PTA prices remained unchanged on pending October paraxylene contract price settlement in the coming weeks.

Courtesy: Weekly PriceWatch Report

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