Terephthalic acid Prices, markets & analysis
For clear insight into regional Terephthalic acid markets, you need in-depth price reports direct from those regions.
That’s why ICIS maintains a network of locally based reporters, providing not just price assessments but market commentary and analysis.
Use ICIS information to:
- Follow fluctuations and understand factors driving them
- Input into your own internal analytical models
- Clarify settlements and contracts
- Inform negotiations
Terephalic Acid Asia Transcript
ICIS provides daily and weekly coverage of purified terephthalic acid (PTA) in Asia offering real time market intelligence and in-depth market analysis.
Spot price assessments are provided for the key China market, the Indian market as well as information on monthly contract settlements in China and Taiwan.
Commentary includes analysis of the China market and India market together with downstream polyester and production use.
The cost and freight (CFR) China Main Port (CMP) spot quotation is an important benchmark in the industry and since 2010 has been split into two categories following the implementation of anti-dumping duties.
Due to our fast reaction to the market changes and our coverage of price assessments, Asia PTA producers, traders and end users chose to refer to ICIS numbers as their benchmark prices in contract settlements.
ICIS attaches great importance to talking and listening to industry experts on a daily basis. This eliminates bias and ensures a more accurate and independent pricing assessment.
Terephthalic acid news and market information products from ICIS
We offer the following regional Terephthalic acid coverage to keep you informed of factors and developments affecting prices in the Asia Terephthalic acid marketplace.
Price Reporting – More information about the price reports we publish on Terephthalic acid
Independent price assessments and market coverage
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News & analysis
News & Analysis - News & market analysis specifically relating to Terephthalic acid
Breaking news of latest developments affecting the markets.
Insight and analysis of factors driving prices.
The significant supply overhang of purified terephthalic acid (PTA) in the key China markets have exerted a downward pressure on spot prices since the start of the year.
Supply was ample in the country, largely attributed to the high operating rates at facilities, against slow sales. At the start of the year, the average operating rates at PTA facilities in China were at around 75-80%, creating a build-up of inventories, as downstream polyester sales were underperforming.
In addition, with the shortage of labour during the Lunar New Year holiday, operating rates at downstream polyester facilities were low, resulting in smaller appetite for feedstock PTA cargoes.
However, PTA spot prices rebounded towards the end of the quarter, especially with production cut backs at PTA facilities in the country. In anticipation of tighter supply and a pick-up in downstream markets, spot activity largely increased, supporting the price uptrend.
Updated to Q1 2014
The average price of Chinese domestic purified terephthalic acid (PTA) was in an overall downtrend in the first quarter of 2014, although it rebounded in late March owing to an output reduction of main suppliers.
Domestic prices decreased sharply in January because of the low operating rate of downstream producers during the end of year. Domestic spot prices fell below yuan (CNY) 7,000/tonne on 9 January and continued on the downward trend. The buying sentiment slightly improved in mid month as the profits of polyester recovered with feedstock prices falling. The PTA price decline slowed and the prices fluctuated slightly at CNY6,700-6,800/tonne. However, the prices weakened again at the end of the month because some downstream producers sold their cargoes due to tight cash flow.
The prices were largely stable for a short term after the Lunar New Year holiday. Speculators were active in buying as the market sentiment was supported by the futures market. However, the spot prices subsequently plunged in line with the futures prices and decreased to CNY6,420-6,450/tonne late in the month. In the last week of February, PTA prices decreased by CNY200/tonne to CNY6,250-6,290/tonne in one day amid the panic in the commodities market.
Even though in end-February Yisheng Petrochemical announced that its two units in Hainan and Dalian would be shut down in March, PTA market sentiment failed to recover instantly. The prices hovered at CNY6,200-6,300/tonne in early March and slumped to below CNY6,100/tonne overnight on 14 March as sentiment was dampened by a trading halt in the futures market after exceeding the daily loss limit.
PTA prices rebounded in late March, supported by a large scale output reduction of main suppliers and a recovery of downstream demand. Yisheng Petrochemical announced that it would cut its PTA contractual supply in March and April, which tightened PTA inventory for both end-users and traders. The prices increased to CNY6,550-6,580/tonne by the end of March.
Updated to Q1 2014
ICIS experts closely follow the Asian terephthalic acid (PTA) markets to give you access to comprehensive, accurate and timely pricing information, market commentary and news.
Asia Terephthalic Acid Weekly
ICIS provides weekly coverage for the Asian terephthalic acid (PTA) industry, offering spot price assessments for key Asian markets such as China and India as well as contract settlements in Taiwan.
The weekly coverage includes information on supply/demand trends, feedstock movements, production, capacity and downstream polyester sectors.
The cost & freight (CFR) China Main Port (CMP) spot quotation is an important benchmark in the industry and has been split into two categories following the implementation of anti-dumping duties (ADDs).
Asian PTA producers, traders and end-users refer to ICIS numbers as their benchmark prices in contract settlements as a result of our fast reaction to market changes and our extensive price assessments.
ICIS attaches great importance to talking and listening to industry experts on a daily basis. This eliminates bias and ensures more accurate and independent pricing assessments.
Asia Terephthalic Acid (PTA) Daily
The ICIS Asia Terephthalic Acid (PTA) daily report supplements the detailed weekly market coverage and analysis in a liquid market. The daily update enables industry players to access information on time-sensitive deals, price movements and production news. It provides reliable information, enabling you to react quickly to opportunities and take advantage of short-term arbitrage windows.
Each daily report includes deals, bids and offers for widely transacted quotes – Cost & Freight (CFR) China Main Port (CMP) and Ex-Warehouse (EXWH) China.
Information of downstream polyester industry and an evaluation of the impact of PTA futures are also included, along with a detailed analysis of spot trading activities taken place in China - the most influential PTA market in the region.
ICIS collects pricing data on a wide range of chemical, energy and fertilizer products, including Terephthalic acid. Our extensive experience in price reporting means we can offer you access to historical data dating back more than 20 years for certain commodities.
Our time series of pricing data enables you to build and model trends, to get a view of where markets might be heading. The data service includes charting functionality, allowing you to chart and download multiple data series for manipulation in your own internal models. You can also export data to Excel via the ICIS dashboard service.
ICIS price assessments are based on information gathered from a wide cross-section of the market, comprising consumers, producers, traders and distributors from more than 250 reporters world-wide. Confirmed deals, verified by both buyer and seller, provide the foundation of our price assessments.
Our in-depth market knowledge drives our specialist focus, as we recognise the importance of individual market dynamics and not a one-size-fits-all approach.
Over 25 years of reporting on key chemicals markets, including Terephthalic acid, has brought global recognition of our methodology as being unbiased, authoritative and rigorous in preserving our editorial integrity. Our global network of reporters in Houston, London, Singapore, Shanghai, Guangzhou, Mumbai, Perth and Moscow ensures unrivalled coverage of established and emerging markets.