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PTA price falls amid weak upstream markets

YarnsandFibers News Bureau 2016-11-18 04:57:59 –

Asian PTA markers retreated US$8 a ton CFR China in the first week of November while CFR Southeast Asia marker was down US$5 a ton. The CFR India marker was down US$6 a ton.

Purified terephthalic acid prices in Asian fell US$5-8 a ton on the week as upstream paraxylene markets remained under weak fluctuation that week with Indian Reliance starting up its new unit. Thus, PTA markets retreated after rushing high early that week.

In Europe, October contract price of PTA was assessed down, with market participants on their toes over uncertainty in upstream November paraxylene contract price. October contract price for PTA in Europe was edged Euro5 a ton lower on the week.

In US too, October PTA price set as feedstock contract pricing for posted a modest increase in the first week.

Courtesy: Weekly PriceWatch Report

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