Asian purified terephthalic acid ended the week at $895/mt CFR China for Taiwan origin cargoes. The price is unchanged from Thursday but was $16 or 1.8% higher on the week. The spot price was at a two-week low of $874/mt CFR China on Monday but staged a rebound Wednesday as downstream polyester demand in East China jumped to a 200% production/sales ratio, up from 50% in the past week. PTA makers reported robust demand from their customers but the outlook for September could turn bearish due to China’s energy rationing measures in the textile hub of Zhejiang and Jiangsu provinces.
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