PTA futures open lower

ZHENGZHOU -- PTA (purified terephthalic acid) futures opened lower Friday in daytime trading on the Zhengzhou Commodity Exchange (ZCE).

The most active PTA contract for May 2020 delivery lost 4 yuan (about 57.24 US cents) to open at 4,970 yuan per tonne.

As the world's largest producer and consumer of PTA, China listed PTA futures on the ZCE in 2006 and opened to international investors in November 2018.

PTA, a commodity chemical and textile raw material, is a downstream product of petroleum and one of the most important bulk organic raw materials in China.