Europe April PTA price decreases in line with upstream PX

27 May 2011 23:59  [Source: ICIS news]

LONDON (ICIS)--April purified terephthalic acid (PTA) prices decreased by €13/tonne in line with upstream paraxylene (PX), sources said on Friday.

The reference price range fell to €1,022–1,043/tonne FD (free delivered) NWE (northwest Europe), according to ICIS.

Producers pushed for greater margins and rollovers were reported in a few instances, but the majority of business is understood to have been concluded in accordance with the upstream price movement.

“In April some rolled over, others gave the PX [pass-through]. In the end, most gave the PX [pass-through],” said a buyer.

The April PX price fell by €20/tonne ($28/tonne) from March to €1,250/tonne.

The supply of PTA in Europe is much improved following months of a very tight market.

Bearish fundamentals and decreasing demand for PTA in Asia are leading to yet more import offers.

PX dropped to €1,150/tonne in May, down by €100/tonne from April.

($1 = €0.71)

For more on PTA and PX visit ICIS chemical intelligence

By: Caroline Murray
44208 652 3214

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