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PTA price tumbles on weak raw material cost

YarnsandFibers News Bureau 2017-06-09 07:19:33 –

Asian PTA prices gave back US$16 a ton CFR China and CFR Southeast Asia in the fourth week of June. In China, offers for bonded goods fell by US$5 a ton on the week. Yisheng Petrochemical cut it’s selling price US$5 a ton while Hengli Petrochemical’s kept it selling price flat during the week.

Purified terephthalic acid prices sobered in Asian markets as crude oil tumbled and paraxylene spot values declined. In China, September PTA futures tumbled weekend on the Zhengzhou Commodity Exchange.

In Europe, May contract price for PTA remained rangebound to lower, amid no further contract price settlement for paraxylene while downstream PET prices rebounded. European May contract price for PTA fell Euro15 a ton FD NWE on the week.

In US, formula-based April and May PTA contracts were heard settled after paraxylene contracts were settled lower for both months and downstream PET market held flat on week.

Courtesy: Weekly PriceWatch Report

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