PX was stronger than its feedstock this week. Supply contracted as Zhejiang Petrochemical’s 4 million mt/yr PX plant cut operating rate to 90% in mid-week, supporting PX prices.
PTA spot prices followed down with futures market at the beginning of the week and the profit margin dropped to less than 400yuan/mt. In mid-week, Yisheng lowered the operating rate of its PTA plant and announced the maintenance plan. Coupled with the ri
