Europe PTA prices drop in line with upstream PX

22 June 2012 23:59  [Source: ICIS news]

LONDON (ICIS)--The cost of producing purified terephthalic acid (PTA) in Europe is decreasing by €90/tonne ($113/tonne) in May and June as the value of upstream paraxylene (PX) continues to fall, sources said on Friday.

The result is a drop of €10/tonne from April to €968-993/tonne FD (free delivered) NWE (northwest Europe) in May, and another possible fall of €80/tonne from May to €888-913/tonne in June, based on calculations made by ICIS.

"I have a formula based on PX…PTA will be around €900/tonne [in June]," a customer said.

Conversion costs vary according to source and the ones reported most frequently average around €170/tonne. However, down to €145/tonne and over €200/tonne have been recorded in exceptional cases.

($1 = €0.80)

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By: Caroline Murray
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