Asian PTA was assessed up US$2 a ton CFR China and CFR Southeast Asia in the third week of July. In China, offers were maintained at US$620 a ton throughout that week, with buying ideas around US$610 a ton. PTA spot supply was not abundant, and selling ideas on warehouse receipts slipped early that week.
Purified terephthalic acid prices were assessed marginally up on the week in Asian markets amid better domestic demand in China. Hengli will shut its 2.2 million ton a year PTA plant while Hanbang will restart its similar capacity plant soon.
In Europe, PTA price fell on the week, tracking falling feedstock paraxylene prices.
In US, PTA July price was set to slip as paraxylene contract price, the key variable used to set the formula-derived PTA price, was stable to weak.
Courtesy: Weekly PriceWatch Report
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