Asian PTA marker, the CFR China rose US$2 a ton in the third week of June while CFR Southeast Asia was up US$1 a ton on the week.
Yisheng Petrochemical kept list price for PTA at US$615-618 a ton while Hengli Petrochemical maintained its self-lifting offer at US$635 a ton.
Purified terephthalic acid prices were slightly up that week as G20 summit caused uncertainty about shutdowns. Upstream paraxylene cost also sobered significantly providing good margins to PTA makers.
In China, the price spread between PTA spots and futures was chaotic since PTA market fluctuated that week. Several PTA units unexpectedly shut down that week, while BP Zhuhai postponed the restart of its PTA unit.
In US, June PTA price remained unsettled with expectations that it could see a slight increase given in the firmness in feedstock paraxylene prices.
PTA contract in Europe was at a roll over.
Courtesy: Weekly PriceWatch Report
