Asian PTA prices edged down US$8 a ton CFR China and CFR Southeast Asia in the last week of April. Yisheng Petrochemical’s selling price was lowered US$10 a ton while Hengli Petrochemical’s selling price remained unchanged on the week.
Purified terephthalic acid prices sobered further in Asian markets but slower than the fall in raw material paraxylene cost. In China, discussions for PTA were heard lower from the previous week. Since run rates at polyester units was still high, producers will have requirement to replenish inventories after the May Day holiday.
In Europe, PTA prices moved sideways but with the downstream PET market turning bearish due to lackluster demand, PTA outlook remained cloudy for May while buying interest for imports gained momentum.
In US, formula-based March PTA contract remained unsettled amid lower expectations as spot paraxylene dipped slightly that week.
Courtesy: Weekly PriceWatch Report
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