US July PTA contract lower following PX decrease

02 August 2012 22:58  [Source: ICIS news]

MIAMI, Florida (ICIS)--The July contract price for purified terephthalic acid (PTA) was assessed lower by ICIS on Thursday at 55.38 cents/lb ($1,221/tonne, €1,101 /tonne), following input by industry sources.

This represents a decrease of 3.11 cents/lb from 58.49 cents/lb DEL (delivered) USG (US Gulf) in June.

The PTA price is formula-linked to the monthly contract price for upstream paraxylene (PX), with the PTA decrease for July representing 67% of the 4.65 cent/lb decrease in the July PX price.

The US July PX contract price was settled at 62.85 cents/lb DEL USG, down from 67.50 cents/lb DEL USG in June.

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 = €0.82)

By: Blanca Venegas

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly