Taiwan February PTA contract settles up $100/tonne

17 March 2009 11:44  [Source: ICIS news]

SINGAPORE (ICIS news)--The Taiwanese February purified terephthalic acid (PTA) contract price was settled at $720-730/tonne (€554-562/tonne) delivered (DEL), up about $100/tonne from the previous month on strong demand and tight supply, buyers and sellers said on Tuesday.

“The price for [February] was adjusted higher by $100/tonne; we bought at around $730/tonne or slightly below,” said a source from Shinkong Synthetic Fiber, a major producer of polyesters and polyethylene terephthalate (PET) chips.

Demand had been strong in the past two months, and “suppliers generally have not enough inventories to meet all the needs of our customers”, said a source from PTA producer Tuntex Petrochemical.

The January price was settled at $620-625/tonne DEL.

After China and India, Taiwan consumes the largest amount of PTA in Asia.

($1 = €0.77)

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By: Salmon Aidan Lee
+65 6780 4359

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