Taiwan January PTA rises $65-70/tonne on tight supply

18 February 2009 02:56  [Source: ICIS news]

SINGAPORE (ICIS news)--Taiwanese suppliers of purified terephthalic acid (PTA) have settled their contract price for January at $65-70/tonne (€51.4-55.3/tonne) higher than the previous month’s price due to limited supply in the market, company sources and their customers said on Wednesday.

The January contract was settled at $620-625/tonne delivered (DEL), up from the December contract price of $570-580/tonne DEL.

“In general, supply was tight and demand from many downstream players was relatively stable,” said a source from Shinkong Synthetic Fiber, a leading PTA consumer in Taiwan.

Shortage in feedstock paraxylene prompted PTA makers to lower operating rates, making PTA availability scarce, which in turn helped nudge up prices, said a source from producer Tuntex Petrochemical.

PTA suppliers in Taiwan include China-American Petrochemical Co Oriental Petrochemical (Taiwan) and Tuntex, while leading end-users include Shinkong, Tainan Spinning and Chung Shing Synthetic Textiles.

$1 = €0.79

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By: Salmon Aidan Lee
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