Asian PTA markers remained flat in the first week of October. In China, offers for nearby-month goods were flat from pre National Day holiday, and potential discussions were between US$600-605 a ton.
Purified terephthalic acid prices remained flat all days that week amid in thin trade although market participants were bullish on prices in the near term after crude surged and feedstock paraxylene price rose on the week.
Asian PTA markers moved up slightly US$2-3 a ton CFR China and CFR Southeast Asia in the last week of September. In China, offers for nearby-month goods were slightly lower, and counter offers fell US$5 a ton on the week.
Purified terephthalic acid price edged up slightly in Asian markets ahead of plant shutdowns. China's Yisheng Dahua Petrochemical plans to shut both its PTA plants at Dalian with 2.2 million ton a year capacity for two weeks from H1 October while South Korea’s Taekwang Petrochemical has shut 1-million-ton PTA plant for maintenance in Ulsan.
Asian PTA markers slipped US$3 a ton CFR China in the third week of September. CFR Southeast Asia and CFR India markers were also assessed down on the week. Yisheng Petrochemical’s offers edged down US$4 a ton.
Purified terephthalic acid prices moderated somewhat in Asian markets as demand remained weak, particularly in India. Several PTA units in China are expected to restart from maintenance soon including Yisheng's plant at Hainan, and Hengli's plants at Dalian. In China, PTA markets remained under fluctuation with high-end prices retreating and low-end numbers picking up.
Asian PTA markers fell US$6 a ton CFR China in the second week of September. In line with the slide in China, CFR Southeast Asia and CFR India markers were also assessed down US$6 a ton on the week. In China, offers for nearby-month goods declined during the week. Yisheng Petrochemical’s offers edged down US$3 a ton on the week.
Asian PTA markers rose US$5 a ton CFR China in the first week of September. The South Korea/Taiwan marker was also up on the week.
In China, offers for nearby-month goods were at US$610-615 a ton, and negotiations surged similarly to US$605-610 a ton. Yisheng Petrochemical’s offers were stable during the week.
Asian PTA markers edged up US$1 a ton CFR China in the last week of August. In China, offers for nearby-month goods felt to US$605-610 a ton, and buyers countered offers was at US$600 a ton.
Purified terephthalic acid prices were stable to softer amid thin trade in Asian markets. Upstream cost support also eased with paraxylene cost moderating somewhat. Yisheng Petchem shuts its Ningbo plant for G20 while it has planned turnaround at Hainan unit in September.
Asian PTA markers edged down US$2 a ton CFR China and CFR Southeast Asia in the fourth week of August. The South Korea/Taiwan marker was also down on the week. In China, offers for nearby-month goods were maintained at US$610-615 a ton that week, and buyers countered offers was at US$605 a ton, with the discussion stalemated. Purified terephthalic acid prices were stable to low in thinly traded week. Most PTA plants in China were shut ahead of G20 Summit in early September, thus deals were low and sporadic.
Asian PTA markers inched up US$3 a ton CFR China and CFR Southeast Asia in the third week of August. In China, offers for nearby-month goods picked up slightly to US$610-615 a ton, with limited deals within this range.
Purified terephthalic acid markets were almost calm early in the week and saw prices inching up on last two days in line with firmer upstream markets. Demand from India reportedly slowed down.
Asian PTA markers inched up US$2 a ton CFR China and CFR Southeast Asia in the second week of August. Purified terephthalic acid prices rose in Asian market in line with paraxylene cost, giving support to sentiment. Supply dearth continued as Mitsubishi Ningbo 600,000 ton a year PTA plant remained shut and restart was unclear after it was shut unexpectedly in early July. Meanwhile, OPTC plans to permanently shut its old PTA unit in 2017.
Asian PTA markers were assessed down US$9 a ton CFR China and CFR Southeast Asia in the first week of August. In China, offers remained at US$605-610 a ton, and counter offers were between US$590-600 a ton, on the back of flat discussion and transaction.
Purified terephthalic acid prices in Asian markets moderated as market participants expect the bearish outlook to prevail in the mid-term, given the oversupply in China. With paraxylene contract price confirmed, the conversion cost for PTA recovered somewhat.
