Asian PTA prices edged down US$5 a ton CFR China and CFR Southeast Asia in the last week of March. Purified terephthalic acid markets in Asia were under slight downward correction that week. Prices declined opening the week to slightly recover midweek after crude oil rebounded above US$50 a barrel. PTA markets showed quiet performance later in the week.
In China, domestic market changed little that week as energy and petrochemical products entered into the technical recovery. Demand remained weak as inventory with polyester makers were high as some players bought goods before the Tomb-sweeping Day.
In US, March PTA contracts were assessed at a decrease, tracking movement in the upstream paraxylene market. PTA prices were down US cent 0.33 per pound from last week.
Courtesy: Weekly PriceWatch Report
