The UK market for PTA (Purified Terephthalic Acid) had volatility in February xxxx where the month began on an upward trajectory due to increased transportation costs and ended on a stable note due to low downstream demand dynamics.
The force majeure of Alpek UK, impacting xxx,xxx tonnes of annual production, has caused a short-term surge in inquiries for European PTA producers as UK buyers seek alternative sources. However, this was expected to be a temporary phenomenon where prices for PTA remained unchanged during the last week of February xxxx to settle at USD xxx/MT, PTA FD Southampton, UK. At Alpek&#xx;s Wilton facility (xxxkta), a hold period was necessary due to a PTA shortage brought on by the Red Sea delays. As per the market sources, it was revealed that Alpek had no choice but to shut down the plant for xx days after experiencing production problems...
