Asian purified terephthalic acid rebounded this week despiteChina’s Yisheng Petrochemicals ramping up operations at itsnew 2 million mt/year Ningbo line to full capacity. The CFRChina spot price was assessed $15/mt or 1.3% higher weekon week at $1,167/mt for Taiwan origin cargoes. Chinesetraders said Friday offers were heard at $1,175/mt CFR, butbuyers were not so keen to book at that price, as they feltprices would fall amid ample supply. “Sellers would bewilling to lower their offers to $1,170/mt CFR but buyerswould still want it lower. Domestic offers are only at Yuan9,100/mt, which is equivalent to $1,135/mt on importparity basis,” a Chinese trader said.
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