India has been importing more spot purified terephthalic acid (PTA) since the beginning of this year, and is expected to increase in the coming years to become the second largest spot market in Asia.
While talking to an official from Indian Oil Corp - one of the major PTA producers in the country said that, the current offer price is around INR 43,700/ton.
The official from the company further added that in the near future, PTA market is expected to remain strong due to relatively strong demand prevailing in the market.
Many of the Indian PTA producers are expanding their production capacities and also there had been an increasing trend in PTA imports.
India's polyester industry has grown steadily in the past few years, with the majority of the PTA supply coming from domestic producers. But the increase in demand from downstream producers has started to surpass the addition of new PTA capacities.
Fibre2fashion News Desk - India
marketing@alchempro.com
