08 August 2012 10:32 [Source: ICIS news]
SINGAPORE (ICIS)--The main ports for purified terephthalic acid (PTA) and monoethylene glycol (MEG), including those of Zhangjiagang, Ningbo, Zhapu and Taicang, have been sealed for safety reasons as Typhoon Haikui hits eastern China on Wednesday morning, sources from those ports said on Wednesday.
The ports are expected to resume normal operations as soon as possible after the typhoon has passed, a source from the port of Zhangjiagang said.
The transportation of PTA and MEG are currently all cancelled or delayed, resulting in thin discussions within the spot market, according to ICIS.
Some market players said PTA and MEG prices may fall from the impact of the typhoon on the market, while most players have retreated to the sidelines to wait for clearer price directions.
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