PTA supply and demand were abundant in the past week, but polyester product demand from downstream market saw no improvement. PTA prices fell US $5 per ton from last Thursday.
Price for October shipment offered at $865 per ton, CFR China Letter of Credit (L/C) at 90 days on Thursday.
However, before China National Day on October 1, buyer's purchasing intention will be weak. Price bid for October shipment is at US $860 per ton, CFR China L/C 90 days. Earlier this week, price for individual October shipments was at US $860-865 per ton, CFR China L/C 90 days.
Price after National Day is expected to drop and stand around $850 per ton, CFR China.
PTA inventory in East China is about 500,000 tons, no less than the inventory of last month.
Fibre2fashion, News Desk - China
marketing@alchempro.com
