November and December PTA in Europe could drop by €107/tonne

23 December 2011 23:59  [Source: ICIS news]

LONDON (ICIS)--November and December purified terephthalic acid (PTA) prices could drop by €107/tonne ($139/tonne), following upstream paraxylene (PX) decreases, sources said on Friday.

The November price has been brought down by €50/tonne to €935–957/tonne FD (free delivered) NWE (northwest Europe), tracing the €70/tonne drop in PX values.

December PTA is likely to see a reduction of €47/tonne, pending confirmation of traditional calculations being used.

“Around €900/tonne is about right [for December],” one downstream polyethylene terephthalate (PET) producer said.

Artlant PTA’s 700,000 tonne/year PTA plant in Sines, Portugal, will have saleable product between the end of January and early February 2012, a company source confirmed. The plant is in production mode, and feedstock is on site.

($1 = €0.77)

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By: Caroline Murray
44208 652 3214

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