Asian Paraxylene: PTA Futures Continue to Slide- Participants remain positive
on downstream demand- China ports seeing lesser
delaysFutures on purified terephthalic acids were
sharply down February 10, reflecting persistent downstream demand. At 3:00 PM Singapore (0700 GMT), May futures
were closed at Yuan 5,460/mt. This is down from Yuan 5,620/mt close to the
Zhengzhou Commodity Exchange the day before. Sources
said that downstream demand remains low and there has been no significant
change in fortunes since the Lunar New Year holidays. A trader
from north Asia stated that although we had expected better downstream demand
for the start of 2023, it did not materialize. According
to the trader, industry remains optimistic that downstream demand will improve
faster than expected. It stated that downstream operations rates would
recover slowly and future demand will rebound. Sources
said that...