Purified terephthalic acid fell $10/mt week on week to be assessed at $897/mt CFR China Friday as supply was seen increasing in coming weeks due production rampups and the startup of new PTA plants in China. China’s Xianglu Petrochemical plans to start up a 1.5 million mt/year PTA line at its new 4.5 million mt/year PTA plant in Zhangzhou, Fujian province, by end April. The startup date of the other 3 million mt/year was unclear. Some market sources said Chinese PTA producers were also set to increase operating rates amid rebounding margins.
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