China April PTA prices up CNY1,050/t on strong demand

27 April 2009 11:32  [Source: ICIS news]

SINGAPORE (ICIS news)--Major purified terephthalic acid (PTA) suppliers in the Chinese domestic market have finalised their April price as yuan (CNY) 7,300/tonne ($1,069/tonne), up CNY1,050/tonne on the previous month, buyers and sellers said on Monday.

The price, on a delivered (DEL) basis, was announced on Monday by Yisheng Petrochemical and Zhejiang Yuan Dong Petrochemical, while Xiang Lu Petrochemical and BP Zhuhai announced theirs late on Friday.

“Demand from our customers had been strong, and we don’t have enough supplies to meet all the demand,” said a source from Xiang Lu.

Last week, market leader Sinopec also finalised its April price as CNY7,300/tonne DEL.

Together, the five producers sell more than 50% of the PTA manufactured in China.

($1 = CNY6.83)

Freya Tang of CBI China contributed to this article
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By: Salmon Aidan Lee
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