03 November 2011 14:55 [Source: ICIS news]
SINGAPORE (ICIS)--Two northeast ?xml:namespace>
On 25 October,
“Given the November Asia contract settlement for paraxylene (PX) at $1,500/tonne (€1,095/tonne) CFR Asia, the current spread between PX and PTA is not enough to cover our production cost,” said a CAPCO source.
The spread between feedstock PX costs and PTA prices has narrowed to $70–100/tonne, while production costs for PTA is estimated at around $150–200/tonne, the producer said.
One tonne of PTA is produced by 0.67 tonne of PX.
“We are making [a] loss now. Demand is so poor in
A major regional trader said: “Producers’ efforts to stabilise prices could do little to stem the downtrend."
He added that PTA prices are more affected by demand and the futures market, rather than the supply side.
The overall sales-to-output ratio of most of
Sharp falls in feedstock PTA prices and soft demand from textile factories at the close of the demand season exerted huge downward pressure on polyester prices, market sources said.
($1 = €0.73)
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