Asian PTA prices inched up US$2-5 a ton CFR China and CFR Southeast Asia in the last week of June. In China, offers for bonded goods picked up US$2 a ton and discussions for firm deals inched up on the week. Yisheng Petrochemical raised its self-lifting price by US$2 a ton. In India, CIF values rose US$5 a ton.
Purified terephthalic acid prices moved up slightly that week on support of rising paraxylene spot, but limited by weak downstream demand. In China, driven by feedstock costs, PTA market rebounded a bit and offers for bonded goods picked up and discussions for firm deals inched up.
PTA futures also fluctuated upward that week. The influence from weak demand probably was transferred to upstream. Run rate of polyester units remained, implying demand support to PTA.
In Europe, spot contract was assessed unchanged while US spot rolled over.
Courtesy: Weekly PriceWatch Report
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