Asian PTA: Price volatility persists despite little
fundamental change- Market
anticipates fluctuations in PTA pricing- The
downstream fundamentals remain unchangedAsian purified Terephthalic Acid prices
rose $20-25/mt weekly to $830-850/mt CFR China on July 29, a result of higher PX
and domestic PTA pricing, despite little change in market fundamentals. CFR Taiwan/China's PX
indicator rose $42.34-47.50/mt weekly to $1,120.67-1,150.50/mt July 29. Prices fluctuated in China's domestic PTA market at similar
levels due to low demand and few trades. Domestic
PTA rose Yuan 233-280/mt over the week to Yuan 6,096-6,500/mt exp-warehouse. A trader stated that prices will continue to fluctuate
because of little market fundamental changes. Yisheng lowered the operating rate of its 2.2 million
mt/year PTA Line to 60% on July 28 and closed its 2 million mt/year PTA Line
at Zhejiang Ningbo on late July 22. Market
sources...