Asian PTA markers fell US$4 a ton CFR China and CFR Southeast Asia in the third week of October. Purified terephthalic acid prices edged down amid volatility in futures market despite active trading in Chinese domestic market. End-users were seeking goods to meet year-end demand.
In China, offers for nearby-month goods were range bound on the week. PTA market was relatively quiet in H1 of the week as PTA futures values inched up, while the trading atmosphere in spot waned since polyester producers showed weak interest to buy high-priced goods.
In Europe, October contract price fell as October paraxylene CP had split settlement at rollover. October contract price fell Euro5 a ton on the week.
In US, October price increased tracking the movement in feedstock October paraxylene contract. The formula-derived PTA price uses the US paraxylene contract price. October PTA price increased US cent 0.50 per pound on the week.
Courtesy: Weekly PriceWatch Report
