US August PTA contract rises 4.12 cents/lb following PX increase

30 August 2012 20:46  [Source: ICIS news]

HOUSTON (ICIS)--The August contract price for purified terephthalic acid (PTA) was assessed higher by ICIS on Thursday at 59.50 cents/lb ($1,312/tonne, €1,050/tonne), following an increase in feedstock paraxylene (PX).

This represents an increase of 4.12 cents/lb from 55.38 cents/lb DEL (delivered) USG (US Gulf) in July.

The PTA price is formula-linked to the monthly contract price for upstream PX, with the PTA increase for August representing 67% of the 6.15 cent/lb increase in the August PX price.

The US August PX contract price was settled at 69 cents/lb DEL USG, up from 62.85 cents/lb DEL USG in July.

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 = €0.80)

By: Blanca Venegas

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