14 August 2012 10:03 [Source: ICIS news]
September PIA prices are being targeted at around $1,700-1,750/tonne CFR (cost & freight)
Prices of feedstock mixed xylene have gone up to $1,260-1,280/tonne CFR NE (northeast) Asia in the week ended 10 August, up by $178/tonne or 16% over two months, according to ICIS.
Over the same period, PIA prices increased at a slower pace of around 9%.
This makes another round of price increase for PIA “inevitable”, the source said.
Expectations of tighter supply-and-demand balance in the PIA market will lend additional support to the prices, the source said.
KP Chemical, which is Asia’s largest PIA producer, plans to shut its 200,000 tonne/year PIA unit in
PIA is used as a modifier in downstream polyethylene terephthalate (PET) bottle-grade resins and as an additive in unsaturated polyester resins (UPR), coatings and low melting fibre (LMF).
($1 = €0.81)
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