In the polyester feedstock market in China, a series of paraxylene (PX) production facilities were undergoing turnaround. As result, inventories were not high and sellers were not in a rush to sell. In addition, as the Chinese government announced economic stimulus packages one after another, market sentiment was bullish.

Regarding high-purity terephthalic acid (PTA), supply was perceived to be ample since many cargoes were available at present and new facilities planned to start up going forward. On the other hand, a high-demand season was drawing to a close and buying interest retreated. In this situation, supply/demand was loose.

For ethylene glycol (EG), feedstock costs were declining and inventories were increasing at ports. However, there were no factors to raise supply in the future and derivative polyester plants were operating at high rates. Therefore, market sources reckoned that the market was unlikely to plummet.