BP Zhuhai, Xiang Lu finalise higher Nov PTA price
23 November 2007 06:17 [Source: ICIS news]
SINGAPORE (ICIS news)--Chinese purified terephthalic acid (PTA) producers BP Zhuhai and Xiang Lu Petrochemical have finalised their November price at yuan (CNY) 7,600/tonne delivered, up CNY50/tonne from the previous month, company sources said Friday.
No reason was given for the increase, but the two suppliers’ customers said they have been constantly reminded of increased feedstock costs for PTA producers over the past month, including much higher paraxylene (PX) and acetic acid costs.
“Frankly, we kind of expected the increase,” said one of Xiang Lu’s customers in southern
On Thursday, Hualian Sunshine Petrochemical finalised its November price as CNY7,800/tonne delivered. Market leader Sinopec is expected to post its November price next week.
Meanwhile, spot prices were hardly affected by the price gains on the contract front, hovering around CNY7,150-7,200/tonne ex-warehouse.
($1 = CNY7.41)
Doris Huang contributed to this article.
By: Salmon Aidan Lee
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