Asian PTA markers CFR China and CFR Southeast Asia remained unchanged in the second week of June. In China, discussions for nearby-month cargoes were down US$3 a ton on the week. In China, PTA market was under fluctuation, with Yuan-based prices up and US$ based value down from previous week. Taiwan saw increased demand for spot PTA due to lower operating rates in recent weeks.
Purified terephthalic acid prices rose and fell on the week but remained stable on thin trade due to weak demand and cheaper local cargoes. India’s Reliance returned Dahej PTA line to normal operations after a short maintenance.
In US, June PTA contracts settled lower, following declines in feedstock paraxylene contracts, which settled lower despite conflicting expectations for paraxylene and downstream PET holding stance.
European PTA contract price was assessed stable on the week.
Courtesy: Weekly PriceWatch Report
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