Europe August PTA contracts roll over with paraxylene

30 August 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--August purified terephthalic acid (PTA) contract prices rolled over from July on Friday, following the stability in upstream paraxylene (PX).

August prices were assessed at €866-896/tonne ($1,139-1,179/tonne) FD (free delivered) NWE (northwest Europe), according to ICIS calculations as well as commentary from the market this month.

Demand from downstream polyethylene terephthalate (PET) has been pulling on PTA supplies. The market is mostly balanced, although tight in certain areas.

The consequences of a power cut at Indorama Ventures' PTA plant in Rotterdam, the Netherlands, have resulted in a 10-day outage at the site.

The PTA problems began over the weekend of 24-25 August.

Power at the 350,000 tonne/year PTA site is supplied by an external grid.

($1 = €0.76)

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By: Caroline Murray
44208 652 3214

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