Europe PTA prices increase from June to July

12 July 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--Purified terephthalic acid (PTA) prices crept up by €5/tonne ($7/tonne) from June to July on Friday because of developments in upstream paraxylene (PX).

PTA prices for large customers settled at €866-896/tonne FD (free delivered) NWE (northwest Europe), according to ICIS calculations.

Margins however, also shifted in producers' favour, according to an industry source. This follows reductions of conversion fees at some accounts that took place over the first half of the year.

Production has been sporadic because of demand in the largest downstream sector of polyethylene terephthalate (PET). This has since improved, yet there were no takers of Asian spot PTA that was on offer this week, according to sources.

Monthly paraxylene (PX) increased by €8/tonne to €1,100/tonne from June to July. Following the Asian contract price settlement this month at $1,410/tonne CFR (cost and freight) Asia, a $10/tonne increase from June, domestic players had expected a similar European number amid subdued spot activity.

($1 = €0.76)

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By: Caroline Murray
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