15 March 2012 10:21 [Source: ICIS news]
(Recasts fifth paragraph for clarity)
“We sell PTA mostly on a spot basis to southeast Asia, so we can adjust our production,” said the source.
Asia’s spot PTA prices fell by $30-35/tonne (€23-27/tonne) this week, with Thursday prices of Taiwanese cargoes at $1,165/tonne CFR (cost and freight) CMP (China Main Port) and for South Korean material at $1,150/tonne CFR CMP.
PTA prices were tracking sharp falls in polyester’s co-feedstock monoethylene glycol (MEG). Weakness in PTA futures market also adds to the downward pressure on spot prices.
PTA's negative margins to feedstock paraxylene (PX) widened to minus $81/tonne from minus $73/tonne in the previous week, according to ICIS. Manufacturing a tonne of PTA requires 670kg of PX.
Meanwhile, Sam Nam also has a scheduled turnaround at its 550,000 tonne/year No 4 qualified terephthalic acid (QTA) at the site from 21 April to 4 May, the company source said.
Sam Nam is a joint venture between
($1 = €0.77)
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