Asian PTA marker fell US$3 a ton CFR China and Southeast CFR in the second week of November.
In China, selling indications for cargoes held steady at above US$600 a ton throughout the week with discussions slipping to US$600-605 a ton from US$610 a ton earlier in the week.
Yisheng Petrochemical’s offers were pegged at US$640 a ton throughout this week while Hengli Petrochemical issued self-lifting offers in the range of US$635-640 a ton.
Purified terephthalic acid prices slipped in Asian markets amid bearish sentiment and thin trading.
Although higher operating rates of about 90% were been seen at several Chinese PET resin producers, most polyester fiber plants in China and Taiwan reportedly reduced rates to 75%.
In US, October PTA price was set down from September while October drop extended the downward trend in the North American market.
Formula-derived October PTA price was down US cent 0.8 per pound from September.
In Europe, PTA market awaited direction and contractual prices were assessed unchanged on the week.
Courtesy: Weekly PriceWatch Report
