Asian PTA markers were up US$2 a ton CFR China and CFR Southeast in the third week of April. In China, many deals were concluded at US$615 a ton, a level before the market went up. Those were mainly bonded goods on one-day trip bought by polyester producers.
Purified terephthalic acid prices rose on the week amid firm futures markets while Hanbang and India’s Reliance will restart their PTA lines soon. Prices declined opening the week to remain stable later and to rise midweek but ending the week flat.
Taiwan FCFC’s PTA plant will shut in August/September for scheduled maintenance. In China, PTA market rebounded driven by commodity market that week with prices up.
In Europe, contract prices for PTA were up from the end of March, largely reflecting the increase in feedstock cost. European contract prices for PTA were up Euro40 a ton FD NWE from the end of March.
Courtesy: Weekly PriceWatch Report
