24 April 2009 04:32 [Source: ICIS news]
SHANGHAI (ICIS news)--The contract price for imported purified terephthalic acid (PTA) sold into China for the month of January has been largely settled $60-65/tonne higher than the previous month at $635-640/tonne CFR China, due to strong demand, buyers and sellers said Friday.
“Our price for January was $640/tonne CFR China,” said a source from Mitsubishi Chemical, a major supplier. Most producers had originally sought $650/tonne CFR China.
“After much discussions and looking at the overall trend in the market, I settled with most of my suppliers at $640/tonne CFR China, but some of my purchases were about $5/tonne lower,” said a source from Xiaoshan Longda Polyester, a producer of polyester chips and filament yarns in eastern ?xml:namespace>
The price in December was settled at $570-580/tonne CFR China. Negotiations to settle the February, March and April prices were still ongoing.
Earlier this week, the March price in
PTA is the main feedstock for the production of polyester and polyethylene terephthalate resins.
($1 = €0.76)
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