APIC '18: Weaker PTA Turkey import demand, depreciating currency

21 August 2018 10:55 Source:ICIS News

KUALA LUMPUR (ICIS)--The depreciating Turkish lira against the US dollar is hampering imports of purified terephthalic acid (PTA), market sources said on Tuesday.

The recent depreciation of the currency and unstable economy of Turkey have resulted in weaker buying appetite for import PTA spot, according to several market participants.

They were speaking on the sidelines of the Asia Petrochemical Industry Conference (APIC) 2018, being held in the Malaysian capital on 20-21 August.

Import spot appetite has declined, while most cargoes are only moving on a contractual basis, market participants added.

By Samuel Wong