- PTA margins lower than breakeven in China- No trades during MOCAsian paraxylene was down $15.75/mt during
the session at $1,002.58/mt CFR Unv1/China Nov.







14 as concerns mount over China's COVID-19
infections. There was no trade during the Market. 14 with bids for January cargoes and offers for
December and January cargoes. plus 25/mt Nov. According to
a source, the spread could shrink further to single digits. Market
sentiment weakened during the session, with January cargoes offered at lower
levels during the MOC and a narrower backwardation between December and January
contributing to a steeper-than-expected fall in prices in Asia. The Asian paper
market followed suit, with December and January paper offers falling late
afternoon after the MOC. Sources claim that there is talk
among China's major polyester producers of lowering their operating rates. This
was bearish for PX...