The Isophthalic Acid market witnessed a strong price rise in both the USA and China during the second week of June. This upward trend was largely due to tight supply, firm raw material costs and steady downstream demand from the packaging sector. Both countries experienced pricing pressure because of supply issues and rising costs along with healthy demand from the PET packaging sector.
In China the Isophthalic Acid market remained on a bullish path due to several market factors. The production of Isophthalic Acid was not running at full pace as many domestic plants operated below their usual capacity. This was mainly because of planned maintenance and limited availability of meta-xylene, a key raw material. As a result, the market faced a supply shortage especially in major consumption areas. At the same time the cost of upstream materials stayed firm increasing...
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