PTA price edges up in Asia

YarnsandFibers News Bureau 2015-12-11 07:25:30 –

Asian PTA markers gained US$4 a ton CFR China in the last week of November.

In China, trading values of bonded cargoes were up US$3 a ton. Selling ideas picked up from US$600 a ton to US$615 a ton.

Yisheng Petrochemical’s offers were at US$602-605 a ton through the week while Hengli Petrochemical issued self-lifting offers in the range of US$625-630 a ton.

Purified terephthalic acid prices in Asian markets edged up on end-user and producer buying interest.

End-users were reportedly actively buying US$-denominated spot cargoes from both producers and traders amid more competitive offers heard for early December loading.

In China, PTA market saw less brisk transaction compared with third week of November.

In US, PTA markets were not expecting much change in the November paraxylene contract, which would mean little movement for the formula-derived PTA price.

In Europe, PTA contractual prices were at Euro658 a ton, unchanged on the week.

Courtesy: Weekly PriceWatch Report

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