29 July 2010 17:40 [Source: ICIS news]
LONDON (ICIS)--European purified terephthalic acid (PTA) prices dropped to €740-765/tonne ($961-994/tonne) in June, down from May’s €770-790/tonne, because of weaker production costs, buyers and sellers said on Thursday.
The decrease in the upstream July paraxylene (PX) price was passed onto PTA at €24/tonne, some industry players agreed. This level varied, however, with others quoting drops of €25/tonne and a producer announcing its weighted-average decrease of €27/tonne.
Sources said €750/tonne was considered to be an average price for PTA. Actual prices were also reported down at €720/tonne, but most market players said this was exceptionally low.
ICIS assessed the June PTA price range at €740-765/tonne FD (free delivered) NWE (northwest ?xml:namespace>
Imports of PTA were scarce because material was more expensive in
“[PTA] demand is very strong because the [PET] season is good in
($1 = €0.77)
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