Purified terephthalic acid (PTA) markets continued to remain strong, supported by the upbeat global energy and upstream PX prices.
However, demand seemed to be rather low as sellers struggled to close deals at current prices.
This forced traders to keep their offers at around US $820 per metric ton Asia levels.
Sources reported that PX prices have soared to almost $1070 per metric ton level and is expected to move up.
These buoyant PX markets are backing the offer of over $830 per metric ton by leading Indonesian PTA producer PT Polyprima which boasts a 460 kilo ton per annum unit.
Sources believe that as the Chinese May holidays approach the demand in derivative polyester and PET sector will improve which will help PTA prices to rise up.
Hence, buyers are urged to complete their stock purchases as soon as possible.
marketing@alchempro.com
