24 June 2011 00:06 [Source: ICIS news]
HOUSTON (ICIS)--The June contract price range for purified terephthalic acid (PTA) was assessed by ICIS on Thursday at 64.45-64.55 cents/lb DEL (delivered), down 1 cent/lb ($22/tonne, €15/tonne) from May.
The PTA price is formula-linked to the contract price for upstream paraxylene (PX), which was settled at 75 cents/lb DEL for June, down by 6 cents/lb from May.
PTA is the principal feedstock for polyethylene terephthalate (PET), which is used to make plastic bottles and polyester fibre.
Bottle grade domestic PET prices are currently assessed by ICIS at 100-103 cents/lb DEL (delivered).
BP Chemicals and DAK Americas are the only PTA producers in the US, while 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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