Asian PTA markers moved up slightly US$2-3 a ton CFR China and CFR Southeast Asia in the last week of September. In China, offers for nearby-month goods were slightly lower, and counter offers fell US$5 a ton on the week.
Purified terephthalic acid price edged up slightly in Asian markets ahead of plant shutdowns. China's Yisheng Dahua Petrochemical plans to shut both its PTA plants at Dalian with 2.2 million ton a year capacity for two weeks from H1 October while South Korea’s Taekwang Petrochemical has shut 1-million-ton PTA plant for maintenance in Ulsan.
In Europe, PTA September contract price was assessed stable, despite supplies tightening over the past weeks.
In US, paraxylene contracts is expected to move lower due to increased production and downstream PET bottling season ending, lowering demand for PTA.
Courtesy: Weekly PriceWatch Report
