Corrected: Chinese PTA producers drop Sept prices by $161/tonne

23 September 2009 11:09  [Source: ICIS news]

Correction: In the ICIS news story headlined "Chinese PTA producers hike Sept prices by $161/tonne" dated 23 September 2009, please read the headline as "...producers drop Sept prices..." instead of "...producers hike Sept prices..."

SINGAPORE (ICIS news)--Major purified terephthalic acid (PTA) producers in the Chinese domestic market have lowered their September prices by yuan (CNY) 1,100/tonne ($161/tonne) from August values, market sources said on Wednesday.

Sinopec, Yisheng Petrochemical, Xiang Lu Petrochemical, Zhejiang Yuan Dong Petrochemical and BP Zhuhai have finalised their PTA prices at CNY7,100/tonne DEL (delivered).

The lower prices for September were in line with falls in spot values of the material over the past month, company sources said.
Contracts were finalised at CNY8,200/tonne DEL in August.

Other PTA producers in China include Ningbo Mitsubishi Chemical and Oriental Petrochemical (Shanghai).

($1 = CNY6.83)

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By: Jeremiah Chan
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