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Recently, Platts Energy released a report that, affected by weak market demand in Europe, European purified terephthalic acid (PTA) producers are actively seeking to shift to the Asian market, mainly focusing on export opportunities in India and Chi.
According to Chinese customs data, in September, Europe exported PTA to China as high as 22,992 tons, and the exporting countries were Belgium and Portugal, while European PTA exports to China were usually zero or negligib.
BP is the only PTA producer in Belgium with a total production capacity of 4 million tonnes/year, while Portugal has the only 700,000 tonnes/year PTA unit owned by Indora.
Platts said that with the advent of the off-season demand, the European PTA market was hit by the weakening of the downstream PET mark.
Although European PTA producers are actively pursuing opportunities to export to the Asian market, some trade players have expressed doubts about the sustainability of European PTA exports to the Asian market due to packaging and logistical challenges, as well as a generally bearish Asian PTA mark.
