+917718880355

Insights

PTA prices plunge in Asia

YarnsandFibers News Bureau 2016-01-29 06:29:24 –

Asian PTA markers fell US$18 a ton CFR China and CFR Southeast in the second week of January.

In China, offers for bonded goods on one-day trip from suppliers moved down continuously, while buying interest remained softened. Buying ideas stayed below US$540 a ton, with the discussion at a stalemate.

Yisheng Petrochemical’s prices ranged between US$547-565 a ton while Hengli Petrochemical issued self-lifting offers at US$565-600 a ton.

Purified terephthalic acid prices declined in Asian markets on bearish outlook and buyers were heard to have dropped bids further amid falling PET and polyester prices. In China, a majority of polyester fiber and PET resin plants were reported to be operating at reduced rates of 70%-75%.

In US, the formula-derived December PTA price was set down from November, touching its lowest level since February.

Overall, there is still very low possibility for PTA market to change significantly in a short run.

The polyester chain is expected to remain under fluctuation, and players will wait for the guidance from market news before adopting any option.

Courtesy: Weekly PriceWatch Report

Please Login to comment

Market Intelligence

Ask for free sample Report


why us?
21 yrs

experience

Fortune 500

Customer Base

100%

dedicated team

55+

Countries Served Worldwide


newsletter

Register below to receive our newsletters with latest industry trends and news!

WeCreativez WhatsApp Support
Our support team is here to answer your questions via WhatsApp. Ask us anything!
👋 Hello