Asian PTA: Prices rebound late
week on relaxedCOVID-19 rules in China■ Chinese futures prices
surge on improved sentiment■  Spot demand from India
remains weakPrices of Asian PTA rebounded Nov. 11 following bullish sentiment
inthe Chinese domestic markets after the government relaxed COVID-19-related
rules for travel and quarantine.The rise comes after PTA markets fell for four
consecutive daysbecause of weak demand.Prices in the Chinese domestic spot
markets rose Yuan 206/mt onthe day and Yuan 54/mt on the week, tracking higher
futures prices.Premiums for prompt shipments fell Yuan 9/mt on the day, with
severalsellers saying demand for prompt PTA remained weak due to sluggishtrade
in the downstream polyester sector.Expectations of earlier shutdowns at
finished goods facilities inChina weighed on buying appetite for PTA as
polyester plants werealso likely to reduce operating rates. Several...