Asian PTA: Prices fall amid weak downstream market- China's
low operating rates keep the supply tight- The
Indian prices continue to
bearishDue to poor downstream demand, Asian PTA
markets declined on Aug. 19. Market
sources indicated that China's operating rates were between 67%-70%. This kept
supply tight. Sources said tight supply
did not boost market sentiment as trade was still dependent on downstream demand. Many market participants claim that downstream polyester
demand is weak. This is because trade has been slow for several months,
especially in the textiles industry. PTA
demand has been slowed by low polyester inventories, which kept buyers off the
edge. Most buyers only buy feedstock on a temporary basis. Producers expressed concerns about high production costs.
This has led to lower buying confidence downstream and a weakening of PTA
demand. The sentiment was also affected...