Buyers of European purified terephthalic acid will be pushed to accept higher prices for material over coming weeks, as the European paraxylene contract price for September was fully settled Friday at Eur1,190/mt FD, an increase of Eur60/mt against August. Buyers of PTA in the polyethylene terephthalate packaging sector have complained that downstream demand is still weak and that price increases are difficult to pass on given the passing of the peak season. But, sources in the fibre sector reported improving demand and prices, and claimed that they are able to maintain margin despite PTA price increases.
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