Europe May purified terephthalic acid contract prices roll over

17 May 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--May purified terephthalic acid (PTA) contract prices rolled over from April on Friday, following the confirmation of the upstream May paraxylene (PX) price.

Buyers for polyethylene terephthalate (PET) production are paying €880-910/tonne ($1,128-1,167/tonne) FD (free delivered) Europe, although one said it did not agree with the low end of this contract range.

Spot material has increased in value as European operating rates are curtailed due to poor market conditions and maintenance. There were no confirmed details of prices or of production status.

"PTA producers are tired of burning money so they reduced capacity," a customer said.

There has been a slight improvement in demand for PET and PET producers have increased their rates to accommodate requirements.

($1 = €0.78)

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By: Caroline Murray
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