PTA price falls amid weak upstream markets

Asian PTA markers retreated US$8 a ton CFR China in the first week of November while CFR Southeast Asia marker was down US$5 a ton. The CFR India marker was down US$6 a ton.

Purified terephthalic acid prices in Asian fell US$5-8 a ton on the week as upstream paraxylene markets remained under weak fluctuation that week with Indian Reliance starting up its new unit. Thus, PTA markets retreated after rushing high early that week.

In Europe, October contract price of PTA was assessed down, with market participants on their toes over uncertainty in upstream November paraxylene contract price. October contract price for PTA in Europe was edged Euro5 a ton lower on the week.

In US too, October PTA price set as feedstock contract pricing for posted a modest increase in the first week.

Courtesy: Weekly PriceWatch Report

Recent Posts

Nylon or polyamide markets move up amid modest demand

In May 2020, nylon filament yarn prices were talked up amid climbing prices in the upstream CPL and nylon chip…

4 years ago

Polyester fiber, yarn prices firmer amid a rebound in PTA and MEG markets

In May 2020, polyester filament yarn prices recovered in China supported by higher prices in the polyester staple fibre markets.

4 years ago

Viscose or rayon markets continue to weaken in Asia

Viscose staple fibre prices in April were mostly down in the Asian markets of China, India, and Pakistan. In China,…

4 years ago

Acrylic fiber prices slip amid low acrylonitrile and propylene costs

Feedstock, propylene prices in Asia fell in April amid historic lows in the crude oil and naphtha markets that month.…

4 years ago

Nylon or polyamide markets slump on lackluster sentiment

Nylon or polyamide chip markets slumped in March amid weakening prices in the raw material CPL markets while downstream buying…

5 years ago

Polyester prices nosedive to multi-year lows across the world

In March 2020, polyester staple fiber (PSF) prices declined month-on-month in China as demand was weak and supply was abundant.…

5 years ago