Asian
PTA Prices Fall Despite Low Demand- Expected
Supply Shortage During upcoming Maintenance Shutdowns- Downstream
polyester producers prefer lower inventory levelsPrices
for purified terephthalic acids fell $11/mt to $760/mt CFR China March 10,
compared to $771/mt March 3. According to data from Zhengzhou Commodity
Exchange, a Chinese PTA buyer stated that PTA prices dropped as TA2305 futures
prices continued falling in the week ending March 10. According to the PTA
buyer, future prices fell because of the weakness in crude oil
prices. According to a Chinese source, deals were made at TA2305 plus Yuan
85-91/mt for the day. This was because prices were rising against the backdrop
of shortages. According to a Chinese source, supply shortages are likely
as many Chinese PTA producers will soon be closing down. According to an
Indian PTA buyer, the market is slow...