Asian PTA prices gained US$3 a ton CFR China and CFR Southeast Asia in the second week of January.

Purified terephthalic acid markets sentiment in Asia were bullish ahead of Lunar New Year and are expected to hold steady in January amid stable-to-firm demand from China and India, unlike in previous years when the Lunar New Year period had translated to weaker sentiments. PTA price rose on the week amid talks of tightening supply while feedstock paraxylene rose week on week.

In Europe, PTA January net contract price was assessed up, largely tracking the firmer initial settlement of the January paraxylene, which increased on the month. European January PTA net contract price was Euro40 a ton on the week.

In US, PTA awaited January settlement since feedstock have risen since holidays.

Courtesy: Weekly PriceWatch Report