Asian PTA prices were up US$8 a ton CFR China and CFR Southeast Asia in the third week of January. Purified terephthalic acid prices were up in Asian markets in line with the rise in raw material paraxylene values and amid talks of tightening supply. According to sources, there were buying inquiries seen from India recently, but the prices in China's domestic market remained more attractive than exports.
In India, supply tightness in PTA market is set to ease slightly as a major plant resumes production and import cargoes start arriving at its ports. In China, trading values were basically corrected in H1 of that week, and followed up midweek in line with rising paraxylene values.
In US, PTA January remained unsettled and is expected to be flat to up.
In Europe, PTA January contract price were stable on the week.
Courtesy: Weekly PriceWatch Report
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