Asian PTA prices inched up US$3 a ton CFR China and CFR Southeast Asia in the fourth week of November. In China, PTA prices surged about US$5 a ton in the second half of that week.
Purified terephthalic acid markets were mixed amid higher upstream prices and sluggish demand. In India, polyester demand was been by government's demonetization policy, sparking drop in retail sales, impacting converters and the traders who supply them. In China, PTA market moved up in a notable range as futures market picked up with an increase on the position.
In Europe, November contract price held steady, with fundamentals largely stable as normal deliveries resumed from PKN Orlen earlier in the month.
In US, November PTA price remained unsettled although spot paraxylene declined week on week.
Courtesy: Weekly PriceWatch Report
