US September PTA contract rises to 69.53 cents/lb on PX increase

08 September 2011 21:41  [Source: ICIS news]

HOUSTON (ICIS)--The September contract price for purified terephthalic acid (PTA) was assessed higher by ICIS on Thursday at 69.53 cents/lb ($1,533/tonne, €1,088/tonne).

That price is up from 65.84 cents/lb  DEL (delivered) USG (US Gulf) in August.

The PTA price is formula-linked to the monthly contract price for upstream paraxylene (PX), with the PTA increase for September representing 67% of the 5.50 cent/lb hike in the PX price.

The US September PX contract price was concluded this week at 82.50 cents/lb DEL USG, up from 77 cents/lb DEL USG in August.

BP uses its own formula to determine the monthly PTA contract price, which resulted in a September price of around 70 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 98–103 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 = €0.71)

For more on PTA and PET visit ICIS chemical intelligence

By: Samuel Weatherlake
+44 20 8652 3214

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