Asian PTA prices fell US$11 a ton CFR China and CFR Southeast Asia in the last week of February. Purified terephthalic acid markets in Asia were under fluctuation that week, prices down amid falling raw material paraxylene cost.
In China, offers were raised beginning of that week only to slightly weaken basically corrected midweek. On Thursday, discussions for PTA edged down as paraxylene market turned weak. Thus, in the first half of that week, PTA markets fluctuated in a narrow range.
In Europe, BP declared force majeure on Belgian PTA plants while European February contract price was assessed stable.
In US, February PTA price remained unsettled while January settled at a 17-month high.
Courtesy: Weekly PriceWatch Report
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