Europe June PTA drops to €740-765/tonne due to weaker feedstocks

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 Europe).

Imports of PTA were scarce because material was more expensive in Asia, players agreed.

Demand in Europe for downstream polyethylene terephthalate (PET) was healthy because of the summer peak season for bottlers, they added.

“[PTA] demand is very strong because the [PET] season is good in Europe,” said a reseller commented.  

($1 = €0.77)

For more on PTA visit ICIS chemical intelligence
To discuss issues facing the chemical industry go to ICIS connect

By: Caroline Murray
44208 652 3214

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly