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Chinese PTA market likely to remain firm
06 Aug '12
1 min read
The purified terephthalic acid (PTA) market in China is likely to stay firm in short term, chiefly due to the following reasons.
First, the PTA spot supply is tight as there is decrease in volume of imports. In recent months, PTA imports were less than 400,000 tons per month.
Secondly, PTA manufacturers in China are increasingly undertaking maintenance and overhaul activities, which push up the prices.
Thirdly, on the demand side, profit of downstream polyester manufacturing firms is increasing, which, in turn, is leading them to accelerate setting up of new equipment.
It is estimated that new polyester capacity of over two million tons would be put into operation in the third quarter of the current year.
Fibre2fashion News Desk - China
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