Many PTA producers announced turnaround plans this week. With some units overhauled or lowering operating rate, PTA market fundamentals improved. Early in the week, the futures market slightly increased and the basis stayed strong with spot
PX price moved upward in Oct, as the cost of naphtha was higher and some domestic PX units cut operating rate or shut down. PX supply tightened as Fujia Dahua reduced operating rate during the holiday, Sinopec Jinling shut plant on Oct 8 for maintenance a
PX, as well as naphtha tracked the drops in crude oil in the beginning of the week. Then, PX market was in stalemate, with price fluctuating in a tight range.
