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 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.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections