NewsFlashBP nominates Asia April PTA $90/t up

02 April 2008 04:21  [Source: ICIS news]

SHANGHAI (ICIS news)--Purified terephthalic acid (PTA) major BP has raised its April contract nomination by $90/tonne (€57.6/tonne) from the previous month on higher feedstock paraxylene (PX) prices, a company source said on Wednesday.

Its April nomination was at $1,040/tonne CFR (cost and freight) CMP (China Main Port) on high feedstock PX value which was notionally firmer at $1,330/tonne CFR CMP.

Other major PTA suppliers in Asia are Formosa Chemical and Fiber Corp (FCFC), Mitsui Chemicals and Samsung Petrochemical.

PTA is used to make polyethylene terephthalate (PET) chips.

Windy Hu from CBI China contributed to this article.

($1=€0.64)

For more on PTA, visit ICIS chemical intelligence

ICIS Copyright © Reed Business Information 2009

Author: Judith Wang
+65 6780 4359

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