ICIS pricing debuts Chinese PTA, MEG report

31 October 2006 07:24  [Source: ICIS news]

SINGAPORE (ICIS news)--ICIS pricing, the global chemical market intelligence service, is launching a new Chinese-language report on the fibre intermediates markets in China this week, the company said on Tuesday.

The report, to be called Fibre Intermediates (China), will cover the purified terephthalic acid (PTA) and monoethylene glycol (MEG) markets, it said in a statement.

PTA and MEG are feedstock for the manufacture of polyester and polyethylene terephthalate (PET) respectively. These, in turn, are raw materials for the synthetic textile, and bottle and packaging industries.

“Many Chinese market players tell us they need a concise, authoritative and independent report on this market written in the Chinese language,” said Salmon Aidan Lee, senior editor with ICIS pricing and editor-in-charge, on the new report.

The report will complement ICIS pricing’s existing English-language reports for the PTA and MEG markets, he added, stressing that the English and Chinese reports are not direct translations of each other.

“One caters to the international audience, while the other is meant for the Chinese-speaking world, where English is less widely understood,” he said.

Lee also edits the English-language PTA and MEG reports from ICIS’ Asian offices in Singapore and Shanghai.

“The new Chinese report will be an authoritative assessment of the market based on ICIS’ treasured principles of accuracy, independence and impartiality,” he said.

ICIS pricing’s weekly PTA and MEG price assessments are already widely used in the global market as a benchmark for settling transactions, both spot and contract, the company added in the statement.

The company’s latest Chinese-language report will be its third in less than a year. Earlier this year, ICIS pricing launched separate Chinese reports covering the PE and polypropylene markets in China.

By: Jeanne Lim
+65 6780 4359

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