Asian PTA markers slipped US$3 a ton CFR China in the third week of September. CFR Southeast Asia and CFR India markers were also assessed down on the week. Yisheng Petrochemical’s offers edged down US$4 a ton.
Purified terephthalic acid prices moderated somewhat in Asian markets as demand remained weak, particularly in India. Several PTA units in China are expected to restart from maintenance soon including Yisheng's plant at Hainan, and Hengli's plants at Dalian. In China, PTA markets remained under fluctuation with high-end prices retreating and low-end numbers picking up.
European PTA market fundamentals were weak amid lackluster demand and contract price moved sideways on the week.
In US, PTA prices were likely to decline as paraxylene price is likely to fall. Further, downstream PET demand continued to soften, implying poor demand for PTA.
Courtesy: Weekly PriceWatch Report
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