Coronavirus impact: PTA prices decline by 10% in a week on duty cut

Decline in crude prices also contributes to lowering the key textile raw material

In a major relief to synthetic yarn manufacturers, Purified Tephthalic Acid (PTA) has become cheaper by 10 per cent during the past one week following temporary suspension of import from China due to the spread of coronavirus there. Withdrawal of anti-dumping duty on this critical synthetic textile raw material has made it cheaper in India.

Trading currently at $600-$620 a tonne, PTA prices has slumped from around $660-$700 about a fortnight ago. PTA prices are determined by the movement in crude oil prices which have also slumped by 10-12 per cent in the past one week. Since PTA is linked