Asian PTA: An increase in upstream PX prices■ Rises in crude oil prices and US gasoline blendstock
pricing■ Chinese domestic market stable due to holiday





After gains in the upstream Paraxylene
markets, the Asian purified Terephthalic Acid price rose on June 3. PX CFR China's marker rose
by $70.7-75.50/mt per week and $82.83-87.25/mt per day to $1,352-1,380/mt on
June 3. Higher crude oil prices and higher
prices for US gasoline blendstock. Asian
traders claim that US aromatics prices increased significantly because of
strong gasoline demand, lower refinery operation rates, and higher oil prices. The Chinese domestic market was stable after the Dragon Boat
Festival holiday. Rising PX raw material
prices have supported PTA prices. But,
downstream demand is still low for polyester. Sources claimed that spot negotiations in India were restricted
with buyers well covered, and downstream demand weak. Spot...