The Asian purified terephthalic acid market rose $22/mt week on week to be assessed at a four-month high of $1,091/ mt Friday, lifted by strong demand from the polyester sector, and despite a weak feedstock paraxylene market. The CFR Taiwan/China PX marker fell $8/mt week on week to be assessed at $1,461/mt Friday. Despite it being low demand season for polyester, demand in July to date has been strong. “Because of the hot summer in China, demand for summer clothes seems to be very strong there. In addition, polyester makers have already started to buy PTA feedstock for the winder clothes season,” a PTA trader said. As a result, the polyester inventory in China was seen falling this week.
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