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PTA price moves up amid rising feedstock price

YarnsandFibers News Bureau 2016-06-24 05:57:46 –

Asian PTA marker was up US$4 a ton CFR China while the CFR Southeast Asia in the second week of June. In China, offers for nearby-month goods were maintained at US$615-620 a ton, and buying interest was mute.

Purified terephthalic acid prices firmed up in Asian markets amid rising feedstock price and expected supply cuts. China's OPSC will remain shut during G20 summit while Hanbang will shut plants late June.

In China, spot PTA market was quiet as a whole for lack of indication from PTA futures. Some sporadic offers were maintained, the same as before the Dragon Boat Festival holidays.

In Europe, PTA contract price remained range bound and unchanged over the past week.

In US, PTA June prices is expected to firm up as upstream PX contract may rise amid strong downstream PET demand.

Courtesy: Weekly PriceWatch Report

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