PTA remained tight in the market and with the higher summer demand season coming producers were confident they could pass through higher costs if the upstream PX contract settled up. April PTA contracts remained unsettled in the first week of the month as the market waited to hear news of a paraxylene contract settlement. Although Asian PX had rolled over, US contracts were talked between a rollover and up 2 cents/lb. As PTA is priced on a PX based formula, the expectation was also slightly bullish for PTA.
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