Asian PTA prices gave back US$3 a ton CFR China and CFR Southeast in the fourth week of March. Purified terephthalic acid prices dipped a bit that week in Asian markets on weaker sentiment, particularly in North East.
In China, PTA market moved down further that week despite major producers Hengli Petrochemical and Yisheng Dahua announcing turnarounds at their Dalian plants, beginning 25 March in early-April, respectively, for two weeks. Meanwhile, declining paraxylene prices eased cost support to PTA markets.
In US, PTA price is expected go flat to down as downstream spot PET climbed on week while drop in March price appears possible. The formula-based March US PTA contract remained unsettled.
Courtesy: Weekly PriceWatch Report
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