PTA price slips in Asia amid bearish market sentiment

YarnsandFibers News Bureau 2015-12-18 08:16:44 –

Asian PTA markers lost US$5 a ton CFR China in the first week of December.

In China, sellers showed no interest at cargoes priced below US$600 a ton, and buyers bid at below US$600 a ton. Offers for bonded cargoes were at above US$600 a ton.

Yisheng Petrochemical’s offers were at US$601-604 a ton through the week while Hengli Petrochemical issued self-lifting offers in the range of US$620-625 a ton.

Purified terephthalic acid prices slipped in Asian markets on bearish sentiment and thin trading.

In China, the most actively January PTA futures on the Zhengzhou Commodity Exchange Market were traded from Monday's open while domestic prices also fell as a result.

PTA market showed weak performance in early week, and values changed little throughout the week.

Negotiation for paraxylene contract price for December gained no result again.

In US, October PTA price was set down from September as October paraxylene contract was settled than September. October price was down US cent 0.8 a ton from September.

Courtesy: Weekly PriceWatch Report

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