The Purified Terephthalic Acid (PTA) prices in the USA attained stability during the week ending December xxxx, while the overall trend was bearish due to low demand from the polyester sector. The ample domestic supply and lower manufacturing costs due to declining feedstock paraxylene have kept the PTA market at a lower end, however, a threat of supply chain disruptions due to the anticipated ILA labor dispute created a challenging environment, and somewhat offset the bearish trend.
The primary driver of the bearish sentiment was a significant slowdown in demand. Several key downstream sectors, including polyester and plastics, exhibited weakness. This sluggish consumption led to a build-up of inventories across the supply chain, prompting cautious trading behavior among market participants. Buyers, facing the prospect of destocking, became increasingly hesitant to commit to new purchases. The weaving industry is currently experiencing a seasonal decline in demand, as...
