Asian PTA markers fell US$6 a ton CFR China and Southeast CFR in the third week of November.

In China, a few cargoes changed hands at US$592-598 a ton, with discussions above US$600 a ton.

Yisheng Petrochemical’s offers were pegged at US$592-603 a ton through the week while Hengli Petrochemical issued self-lifting offers in the range of US$620-630 a ton.

Purified terephthalic acid prices slipped in Asian market on bearish sentiment and thin trading.

Although PET resin producers in China were running at high operating rates, the majority of polyester fiber plants in China and Taiwan reported reduced rates.

China’s Yisheng Petrochemical plans to shut its PTA plant at Ningbo for about two weeks of maintenance in January.

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

Courtesy: Weekly PriceWatch Report