Asian PTA prices fell in the last week of August on ample supply as the assessment considered bid and offer levels for first-half September loading cargoes. PTA marker, the CFR China was down US$29 a ton on the week. Yisheng Petrochemical’s offers were down US$45 a ton with enquiry absent in the week. Hengli Petrochemical issued self-lifting offers were down US$10 a ton.
PTA price in Asia faces the brunt of sluggish demand
Purified terephthalic acid prices in Asian markets slipped in the first week of August amid bearish downstream polyester markets as end-users remained sluggish, expecting the lack of buying interest to pressurize spot prices through August. Hengli Petrochemical made an announcement midweek that it was shutting two of its PTA units in China.
