Taiwan Dec PTA settles $10 down at $850/t

17 January 2008 13:45  [Source: ICIS news]

SINGAPORE (ICIS news)--The purified terephthalic acid (PTA) contract price for December in Taiwan was settled about $10/tonne lower than the previous month at $850/tonne on slack demand, buyers and sellers said Thursday.

“We managed to sell the most part of our volumes slightly lower than what we did in November,” said a mid-sized producer with two lines in Taiwan.

The Taiwan contract price, settled on a delivered basis, was $840-860/tonne in November, with the majority of suppliers selling at the upper end of the range.

“Although some customers were heard to have paid $5/tonne lower than [November], we and a few major end-users managed get a better price which works out to be about $10/tonne lower on average [from November],” said a source from Shinkong Synthetic Fiber, a leading Taiwan buyer.

The PTA contract price in Taiwan settles on a retroactive basis every month, usually in the middle of the following month.

Leading producers include China-American Petrochemical Co, Invista Far Eastern Petrochemical and Formosa Chemical & Fiber Corp, while major consumers include Shinkong, Far Eastern Textile and Tainan Spinning.

By: Salmon Aidan Lee
+65 6780 4359

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