Asian PTA prices, CFR China was up US$10 a ton in the third week of May 2018 while CFR Southeast Asia marker also rose US$10 a ton on the week. In China, offers for bonded goods inched up US$10 a ton and discussions for nearby month cargoes were heard US$5 less than the offer prices.
Purified terephthalic acid prices in Asia edged up that week despite slightly weak paraxylene cost. Since the processing margins have been recovered a bit and plants undertook maintenance, the upward trend of PTA market will now depend on the upstream energy market.
PTA plants’ average run rate in China fell to 75% that week due to the turnaround schedule of a PTA unit.
Meanwhile, South Korea’s PTA producer Hanwha General Chem declared force majeure after plant outage.
European PTA market fell short on supply in the week due to production issues in North Europe.
In US, prices in the PTA market was relatively stable in the week.
Courtesy: Weekly PriceWatch Report
