Taiwan July PTA down $5 on weak demand, low PX

17 August 2007 11:58  [Source: ICIS news]

SINGAPORE (ICIS news)--The contract price for July purified terephthalic acid (PTA) in Taiwan has been retroactively settled down $5/tonne at $920-930/tonne DEL (delivered) due to weak demand and lower feedstock costs, buyers and sellers said.

“This is essentially a reflection of the market’s fundamental overcapacity,” said an official from a mid-sized producer.

An official from the market leader said that he had sold most of the volumes for July delivery at the upper end of the range, but “demand had been less strong than in previous months and weakening feedstock costs also weighed down the numbers”.

Feedstock paraxylene (PX) costs tumbled $115/tonne from June’s $1,245/tonne CFR (cost and freight) Asia and $1,130/tonne.

By: Salmon Aidan Lee
+65 6780 4359

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