Purified Terephthalic Acid Asia

摘要

Asian purified terephthalic acid gained $13/mt or 1.04% week on week to end Friday at $1,258/mt CFR China/Southeast Asia/India for Taiwan origin cargoes. PTA spiked to an intra-week-high of $1,271/mt CFR Wednesday as feedstock paraxylene jumped to a 4 1/2-month high. PTA producers said price movements were all cost-related, with little regard for demand outlook. "The market is very volatile now and everyone is focused on PX. The feedstock is the biggest factor in PTA pricing now," a South Korean producer said. The view was echoed by PTA producers in China and Thailand. PTA futures traded on the Zhengzhou Commodity Exchange also influenced the spot market. The benchmark January futures opened lower Friday but recovered by the end of business, gaining Yuan 14 to close at Yuan 1,010/mt, causing much confusion among traders.