PTA prices edge higher on tight supply and strong upstream cost

YarnsandFibers News Bureau 2017-09-22 08:26:10 –

Asian PTA prices rose US$10 a ton CFR China and CFR Southeast Asia marker in the first week of this month which ended on 8th September. In China, offers for bonded goods were up US$15 a ton during that week. Yisheng Petrochemical raised its self-lifting price by US$15 a ton as compared to the last week of August while Hengli Petrochemical kept prices firm.

Purified terephthalic acid prices in Asia inched up as there was limited product availability in the region. Prices were also supported by high upstream costs and healthy market fundamental. One set of 1.4 million tons a year PTA unit in Jiangsu was shut down for maintenance and was expected to remain closed for about 18 days.

In US, PTA August contract price was settled higher while spot prices were firm amid plant shutdowns during that week.

In Europe, PTA prices were stable during the week.

Courtesy: Weekly PriceWatch Report

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