Asian PTA markers were up US$5-8 a ton CFR China and CFR Southeast in the second week of April. In China, trading values inched down US$8 a ton, while the sales volume expanded. Yisheng Petrochemical issued daily cash-based price for PTA was unchanged.
Purified terephthalic acid prices rose steadily day on day ahead of plant shutdowns and firmer paraxylene cost. India’s Reliance Industries shuts its two plants amid water woes while it sees June as the earliest possible month to startup its new aromatics plant at Jamnagar.
In China, PTA market fluctuated upward as certain supplier still purchased goods, while the transaction was weak as a whole. From midweek transaction were brisker in line with rising prices.
In US, PTA April price was expected to be higher as paraxylene contract could settle higher than March, which would mean increase in PTA pricing. March PTA price was up US cent 0.83 per pound from February since April paraxylene contract may settle US cents 2-3 per pound higher, implying US cents 1-2 increase in PTA pricing
Courtesy: Weekly PriceWatch Report
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