Xiang Lu posts lower July PTA
27 July 2007 10:48 [Source: ICIS news]
SINGAPORE (ICIS news)--Xiang Lu Petrochemical has finalised its July purified terephtahlic acid at yuan (CNY)8,700/tonne ($1,149/tonne), down CNY250/tonne from June, a company official said on Friday.
“Demand had not been as strong as we expected, and offtake of our material in June was not enthusiastic,” said the official, explaining the price reduction.
Earlier in the week, fellow PTA major Sinopec posted its July price as CNY8,700/tonne delivered as well, CNY100/tonne lower than its June number.
Hualian Sunshine Petrochemical and BP Zhuhai are expected to post their July price next week.
Their June prices were respectively CNY8,800/tonne and CNY9,100/tonne.
Together, the four producers supply more than 60% of the PTA manufactured in
($1 = CNY7.57)
By: Salmon Aidan Lee
+65 6780 4359
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