Asian PTA markers fell US$4 a ton CFR China in the first week of September while the CFR Southeast Asia marker was down US$9 a ton. In China, offers were down by US$10, with no enquiries for arrived or to-arrive-at-port cargoes for the moment. Hengli Petrochemical issued self-lifting offer for bonded cargoes on one-day trip in Chinese main ports at US$625 a ton.
PTA price declines sharply in Asia
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.
Related Keywords: Polyester prices, pta price in China, pta price in US, PTA prices, purified terephthalic acid prices
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.
