Chinese buyers of monoethylene glycol (MEG) and purified terephthalic acid (PTA) have decided to exit from the spot market temporarily, until prices of both fibre intermediates fall. Sources told ACN last week that China Chemical Fibre Association (CCFA) members decideda t the recent quarterly meeting against buying MEG and PTA at current prices. The CCFA, a state-affiliated body, comprises the largest polyester producers in China.
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