Asian PTA markers gained US$3 a ton CFR China and CFR Southeast in the last week of April.

Purified terephthalic acid prices inched up in Asian markets amid higher upstream prices. Day on day the CFR China price slipped as September PTA futures on the Zhengzhou Commodity Exchange slumped.

In China, PTA market fluctuated in a wide range, with a large spread between the high and low end. Some suppliers continued to buy goods, and supply to the spot market tightened somewhat.

Yisheng Petrochemical issued price for PTA down to US$622-625 a ton while Hengli Petrochemical issued self-lifting offer for bonded cargoes at US$640 a ton.

In Europe, PTA spot remained unchanged on week while prices were up from end-March. Contract prices for PTA were up Euro40 a ton FD NWE from end-March.

In US, PTA April is expected to inch up as downstream demand improved while paraxylene contract is expected to rise. April PTA price remained unsettled that week.

Courtesy: Weekly PriceWatch Report