PTA Prices Surge on Crude Oil Recovery and PX Maintenance Shutdowns

Polyester raw material prices surged in July due to crude oil price recovery and PX maintenance shutdowns, according to Sunsirs.

The spot price of PTA in East China reached 6,017 RMB/ton on July 29, a 4.15% increase from the beginning of the month.

Crude oil prices rebounded in early July, driven by escalating geopolitical tensions in the Middle East that pushed Brent crude above $100 per barrel.

PX facilities across China and Asia underwent maintenance shutdowns, causing PX operating rates to drop to 56.6% and PTA plant operating rates to range from 53% to 57%.