In early January xxxx, the futures of Purified Terephthalic Acid (PTA) in China experienced a significant rebound due to rising feedstock crude and China’s plan to loosen up the policies. As the Lunar New Year approaches on xxth January xxxx, the restocking activities have surged leading to new orders for PTA during this timeframe.
Key Takeaways:
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PTA prices surge in China due to tight supply, rising costs, and increased Lunar New Year demand.
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Limited PTA availability due to decreasing port inventory.
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Higher production costs due to increased crude oil and Propylene prices.
As January xxxx begins, the PTA futures rebounded from last week climbing x.xx to settle at USD xxx/MT (Ex-Qingdao) primarily driven by a tightening of supply within the Chinese market. Despite a subdued performance from downstream polyester sectors, trading activity in the PTA market remained robust. A surge in new inquiries from various market...
