Gulf supply shock reshapes Asia polyester: Why are prices splitting?

MEG CFR China jumped 8.72 per cent to $810/mt after the Saudi pipeline drone strike, then settled at $765/mt on Friday.
Paraxylene fell about 4 per cent in Korea and Taiwan; PTA split as CFR India rose 6.67 per cent and CFR FE Asia fell 4.17 per cent.
Saudi rerouting, China MEG restarts and futures selling capped gains, while Diwali stocking and rupee weakness kept India PTA at a premium.Read More