BP Zhuhai raises June PTA by CNY100/tonne

18 June 2007 12:38  [Source: ICIS news]

SINGAPORE (ICIS news)--China’s BP Zhuhai raised its June purified terephthalic acid (PTA) price by yuan (CNY) 100/tonne ($32.7/tonne) to CNY9,100/tonne, a company source said on Monday.

 

The producer’s May price was CNY9,000/tonne DEL (delivered).

 

“The increase is in line with higher feedstock costs,” said the source. Feedstock paraxylene (PX) costs on the contract front were at $1,245/tonne CFR (cost and freight) Asia for June, up from the May contract price of $1,165/tonne CFR Asia.

 

Other local Chinese producers, namely Sinopec, Xiang Lu Petrochemical and Hualian Sunshine Petrochemical, are expected to report their June price soon.

 

Like BP, Sinopec, Xiang Lu Petrochemical and Hualian Sunshine Petrochemical’s May price was also CNY9,000/tonne DEL.

 

So far, BP’s price hike has had little impact on spot prices in the Chinese domestic market, which stood at CNY8,400-8,450/tonne EXWH (ex-warehouse), on par with last Friday’s close.

 

($1 = CNY 7.62)

By: Salmon Aidan Lee
+65 6780 4359

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