US April PTA contract falls 2.34 cents/lb on lower PX

26 April 2012 18:28  [Source: ICIS news]

HOUSTON (ICIS)--The April contract price for US purified terephthalic acid (PTA) was assessed lower by ICIS on Thursday at 65.86 cents/lb ($1,452/tonne, €1,104 /tonne), following input by industry sources.

This represents a decrease of 2.34 cents/lb from 68.20 cents/lb DEL (delivered) USG (US Gulf) in March.

The PTA price is formula-linked to the monthly contract price for upstream paraxylene (PX), with the PTA decrease for April representing 67% of the 3.50 cent/lb decrease in the April PX price.

The US April PX contract price was settled at 78.50 cents/lb DEL USG, down from 82 cents/lb DEL USG in March.

PTA is the principal feedstock for polyethylene terephthalate (PET), which is used to make plastic bottles and polyester fibre.

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 Plastics.

($1 = €0.76)

By: Blanca Venegas

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