Asia purified terephthalic acid rose $6 on the week and breached the $900/mt threshold to settle at $901/mt CFR China. The market was rangebound this week, hitting a 10- week high of $905/mt CFR on Monday before settling lower at $901/mt as the downstream polyester production/sales ratio fell below 100%. There were hardly any bids on Friday but offers for Taiwan origin cargoes were heard at $905- 910/mt CFR, while offers for South Korean origin PTA was heard at $880-885/mt CFR. Traders said hardly any business was conducted on Friday and the market appeared flat, taking its cue from the futures market.
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