In China, offers for bonded goods were down US$10 a ton in the second week of October. Yisheng Petrochemical lowered its self-lifting price by US$10 from last week while Hengli Petrochemical kept unchanged on the week. Purified terephthalic acid prices in Asia were stable to weak after the National Day holiday week in China as market fundamentals were largely unchanged supported by tight supply.
China's Jiangsu Hailun Chemical shut its PTA plant for maintenance which has a capacity of 1,200,000 tons per year. China's Sinopec Yizheng Chemical Fibre also shut its PTA plant for maintenance which has a capacity of 650,000 tons per year.
In Europe, purified terephthalic acid market remained long, and spot activity was said to be quiet as customers were covered in terms of supply.
Courtesy: Weekly PriceWatch Report
