19 May 2011 23:36 [Source: ICIS news]
HOUSTON (ICIS)--The May contract price range for purified terephthalic acid (PTA) was assessed by ICIS on Thursday at a decrease of 6.05-6.25 cents/lb from the April price range as a result of lower feedstock paraxylene PX prices.
The decrease brought the May contract price range to 65.45-65.55 cents/lb ($1,443-1,445/tonne, €1,010-1,012/tonne) DEL (delivered).
Earlier in the week, the May paraxylene (PX) price was concluded at 81 cents/lb DEL, down 4.5 cents/lb from the April price of 85.5 cents/lb DEL.
The PX contract price is the basis for the formula-derived PTA price.
PTA is the principal feedstock for polyethylene terephthalate (PET), which is used to make plastic bottles and polyester fibre.
One PET seller expected that May prices would roll over for freely negotiated contracts, while customers whose prices are index-linked to raw material costs would see a decrease of about 4 cents/lb.
Bottle grade domestic PET prices are currently assessed by ICIS at 100.50-104.00 cents/lb DEL.
US PET producers include DAK Americas, Indorama, Mossi & Ghisolfi (M&G) and NanYa.
($1 = €0.70)
For more on PTA and PET visit ICIS chemical intelligence
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