Asian PTA marker was up US$3 a ton CFR China in the first week of June. In China, offers for bonded goods were pegged at US$610 a ton, and bids at US$595?600 a ton amid thin liquidity. Yisheng Petrochemical list price for PTA was up US$3 a ton on the week.
Purified terephthalic acid prices recovered somewhat that week in Asian markets gaining on Tuesday and weekend as markets remained mixed with China still weak.
In India, demand was heard fading and prices were assessed lower as Reliance Industries Ltd. restarted its plant.
In Europe, PTA contract price continued to remain range bound over the week with expectation of a flat run in coming weeks.
In US, May PTA price was set up from April as demand from downstream PET remained strong and paraxylene contract price was finally settled. May PTA was up US cent 0.34 per pound on the month.
Courtesy: Weekly PriceWatch Report
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