Chemical Updates

India PTA: Prices fall on softer China offers; logistics, supply constraints lend support / Weaker China-origin offers pressure CFR India values / Freight, South Korean supply cuts underpin regional fundamentals / September buying interest expected after August coverage

Aug 03, 2026

PTA CFR India at $889/mt on July 31, down $22/mt week over week, with the spread to PTA CFR China holding at $80/mt. Traders said the China-India spread remained primarily freight- driven, while PTA China values continued to reflect regional fundamentals. Higher delivered costs, rather than stronger domestic demand, continued to support the CFR India assessment, participants said. In China, PTA fundamentals remained broadly supportive despite softer spot pricing. PTA operating rates increased by 4.2% week over week at 63.4%, while PX operating rates remained tight and unchanged at 60.5%. PX inventories fell 7.9% week over week to around 1.617 million mt, although weaker domestic RMB PTA spreads pressured Chinese offers lower in recent sessions, market participants said. “The current weakness is driven more by the RMB delta than fundamentals,”...

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