Asian PTA prices declined US$26 a ton CFR China and CFR Southeast Asia in the second week of March. Yisheng Petrochemical’s selling price dropped US$20 a ton while Hengli Petrochemical adjusted self-lifting offers by US$15 a ton.
Purified terephthalic acid prices declined further in Asian markets on lower sentiment, particularly in Northeast Asia. In China, May 2017 PTA futures on the Zhengzhou Commodity Exchange fell, capping a week that saw sharp falls by weekend close.
In Europe, PTA spot was stable despite strong fundamentals. March contract price for PTA moved sideways, reflecting a rollover of the March contract price for feedstock paraxylene. Meanwhile, BP restarted its Belgian Geel PTA line 3, but the force majeure persisted.
In US, PTA March was still unsettled while February price remained unconfirmed and downstream PET slipping off 19-month high.
Courtesy: Weekly PriceWatch Report
