BP posts June PTA at $1,020/tonne, up 6.3%

07 June 2007 04:40  [Source: ICIS news]

SINGAPORE (ICIS news)--Purified terephthalic acid (PTA) major BP informed customers this week that its contract price for June was $1,020/tonne CFR (cost and freight) China, up $60/tonne or 6.3% from the previous month, company sources said on Thursday.

“Feedstock costs have risen, so the price increase is well within expectations,” said one of the sources. The contract price for June paraxylene had risen to $1,245/tonne CFR Asia, up $80/tonne from May.

However, one of the sources said that the announcement was made known only to BP’s customers, and there was no formal statement to the broader market.

BP’s proposed price follows those of Samsung Petrochemical Co, Mitsubishi Chemical and Mitsui Chemicals. The trio also proposed selling their June PTA at $1,020/tonne CFR China last week.

By: Salmon Aidan Lee
+65 6780 4359

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