In the China polyester feedstock domestic market, paraxylene (PX) prices remained firm. Some production facilities of high-purity terephthalic acid (PTA) raised operation rates and buying interest in feedstock PX was heightening. But as operation rates of PX facilities were also rising and supply was increasing, the market was not expected to climb significantly.

The PTA market was supported by economic stimulus measures by the Chinese government and the firm crude oil market. However, demand for derivatives was not strong and the market was at a standstill.

In the ethylene glycol (EG) market, many imported cargoes arrived and inventories were increasing at ports. Further, some EG production facilities restarted after regular maintenance and perceptions of ample supply were growing. Meanwhile, end-users were refraining from procurement ahead of the Lunar New Year at the end of January. As a result, the market lacked upward momentum.