11 August 2011 20:25 [Source: ICIS news]
That is up fom 61.15 cents/lb DEL (delivered) US Gulf (USG) in July.
The PTA price is formula-linked to the monthly contract price for upstream paraxylene (PX), with the PTA increase for August representing 67% of the 7 cent/lb hike in the PX price.
The US August PX contract price was concluded this week at 77 cents/lb DEL USG, up from 70 cents/lb DEL USG in July.
BP uses its own formula to determine the monthly PTA contract price, which resulted in an August price of 66.30 cents/lb DEL USG, a company source said.
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 95–100 cents/lb DEL.
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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