Asian PTA prices inched up US$4 a ton CFR China and CFR Southeast Asia in the last week of November. Purified terephthalic acid prices inched up in China on the week while they were stable in other Asian markets.
In India, domestic polymer and polyester demand was been hit since the government's demonetization policy sparked a drop in retail goods sales, impacting converters and the traders who supply them.
In China, PTA market fluctuated upward that week, but in a limited range. Midweek as the agreement on oil production cut was reached, driving crude oil values up PTA futures remained unmoved.
In US, PTA market awaited paraxylene settlement while spot rose following movement in the Asian markets.
Courtesy: Weekly PriceWatch Report
