Purified terephthalic acid demand remains reasonably healthy despite higher feedstock costs, sources said this week. One PTA producer said Thursday that demand would have been better if the weather had been hotter in Europe in June and July, but given the unseasonably cold weather, demand was healthy for the time of year. The producer said that the European PTA market is well supplied, although this could change when the 700,000 mt/year Artlant PTA plant in Sines, Portugal, begins deliveries later this fall. A source at Artlant PTA reported Wednesday the plant was on schedule to begin deliveries at the end of October. A trader said there is currently no need for PTA imports from Asia, because buyers are unwilling to pay a high enough price for the arbitrage to work.
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