Asian PTA prices slid $16/mt week on week to $755/mt CFR China, $773/mt CFR Southeast Asia and $785/mt CFR India amid increased supply in the international spot market and domestic China market. “PTA spot prices have been rising since the Dragon Aromatics plant explosion as producers have had to buy regular spot volumes to meet contractual obligations. The fall seen in PTA prices this week may signal that as supply normalizes, it will be challenging for producers to support spot prices through additional spot purchases,” a trader said Friday. Additionally, falling PTA futures also put pressure on forward and prompt physical spot prices. The most actively traded May PTA futures on the Zhengzhou Commodity Exchange Market fell Yuan 170/ mt from Monday’s open, to close at Yuan 5,122/mt Friday. Chinese domestic PTA prices fell Yuan 130/mt week on week to Yuan 5,150/mt Friday.
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