Europe November PTA price falls with upstream PX

29 November 2013 23:59  [Source: ICIS news]

LONDON (ICIS)--European November purified terephthalic acid (PTA) contract prices decreased on Friday by €36/tonne ($49/tonne) from October to November, in line with upstream paraxylene (PX).

The PTA contract price is now €836-866/tonne FD (free delivered) NWE (northwest Europe), according to ICIS calculations.

The European November PX contract price settled at €1,055/tonne, down €53/tonne from the previous month, as the initial settlement heard earlier in the month received further support from buyers and sellers.

Fundamentals surrounding PTA have been bearish due to flagging demand for polyethylene terephthalate (PET) and weakening PX prices.

($1 = €0.74)

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By: Caroline Murray
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