Asian PTA prices regained US$12 a ton CFR China in the fourth week of October.
In China, suppliers kept offers at US$620-640 a ton, and buyers pegged counter offers at US$590-600 a ton.
Yisheng Petrochemical issued daily cash-based price for PTA up US$10 to US$640 a ton, with no enquiries for arrived or to-arrive-at-port cargoes for the moment.
Hengli Petrochemical issued self-lifting offer for bonded cargoes on one-day trip at Chinese main ports at US$630 a ton.
Purified terephthalic acid markets moved in line with oil prices as they dipped on weaker upstream structure, tracking crude prices and bearish sentiments in the market.
The previous strong climb in prices were tempered by dipping crude oil values.
Meanwhile, producers were in discussions to find way out on paraxylene contract price settlement.
As oil prices jumped, PTA prices also gained, closing up on that week.
Some individual suppliers raised offers slightly, and negotiations were basically held under the influence from rising spot values.
Courtesy: Weekly PriceWatch Report
