BP Zhuhai sets China August PTA at CNY8,500/t

28 August 2007 12:57  [Source: ICIS news]

SINGAPORE (ICIS news)--Chinese purified terephthalic acid (PTA) producer BP Zhuhai lowered its price on Tuesday for August volumes by yuan (CNY) 200/tonne ($26/tonne) from July, at CNY 8,500/tonne delivered.

“Demand had been slow, but in general, we managed to move most of our volumes,” said a company official.

BP’s price is on par with that by Sinopec and Xiang Lu Petrochemical.

Hualian Sunshine Petrochemical, another major PTA supplier in the Chinese domestic market, has yet to finalise its August price.

Together, the four supply more than 50% of locally-produced PTA in China.

($1 = CNY7.56)

By: Salmon Aidan Lee
+65 6780 4359

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