After witnessing a continuous downtrend, the Purified Terephthalic Acid (PTA) prices in China have finally rebounded from the latter half of March xxxx on the back of a tight supply situation. Despite the low performance of the downstream polyester market, the prices of PTA have surged in China due to maintenance shutdown. Moreover, the rebound in the upstream crude oil prices has strengthened the manufacturing costs during this timeframe.
Key Takeaways:
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PTA supply in China has tightened due to the maintenance shutdown.
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Rebound in upstream crude oil prices has provided cost support.
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Downstream polyester operating rates were lower than expected mainly due to the lower performance of weaving machines.
As per ChemAnalyst, the PTA prices in China are expected to further surge in the first half of April xxxx due to a foreseen surge in manufacturing costs. Moreover, the upcoming...
