Asian PTA prices gained US$13 a ton CFR China and CFR Southeast Asia in the second week of December. In China, offers for nearby-month goods surged US$10 a ton on the week.
Yisheng Petrochemical raised its selling price by US$12 a ton while Hengli Petrochemical offers were up US$10 a ton.
Purified terephthalic acid markets were under strong fluctuation from last Friday till early that week. Prices of petrochemical products picked up for a short term under the influence of rising crude oil values only to decline within the week. PTA values marginally picked up and then were basically quiet.
In Europe, December net contract price of PTA was assessed up, reflecting a higher settlement of the paraxylene December ECP. European December net contract price of PTA was up Euro10 a ton on the week.
In US, PTA December prices rose to a 15-month high. The settlement in the formula-based price followed an increase in feedstock contracts. US PTA price for December rose US cents 1.01 a ton on the week.
Courtesy: Weekly PriceWatch Report
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