Europe April PTA contracts up €20-28/tonne

01 June 2007 23:59  [Source: ICIS news]

LONDON (ICIS news)--Most European April purified terephthalic acid (PTA) contracts have been settled at an average increase of €20-28/tonne ($27-38/tonne) over March due to tighter supply and strong demand, market sources said on Friday.

 

Suppliers reported increases for April ranging from plus €25-30/tonne, notably higher than the April paraxylene (PX) pass-through level of plus €13/tonne.

 

Buyers reported increases ranging from plus €13-28/tonne. Those who agreed prices towards the higher end said suppliers refused to take lower values.

 

Market reports confirmed that the bulk of agreements settled within the range of plus €20-28/tonne.

 

As a result, April prices were assessed at €812-836/tonne FD (free delivered) NWE (northwest Europe), according to global chemical market intelligence service ICIS pricing.

 

Certain buyers voiced their disapproval with the price increases achieved, as these were very hard to pass on further downstream.

 

PTA is used in polyester production and is a feedstock for polyethylene terephthalate (PET), commonly used in drinks bottles.

European PTA producers include Artenius, BP and Interquisa.

 

($1 = €0.74)

 

By: Carl Roache
+44 20 8652 3214

< previous article(VIDEO - ICIS news Europe Lunchtime Bulletin 27 October 2009)

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly