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
Price History – More information about the historical price data we publish on Gas
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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 early-to-mid period of the quarter saw prices of purified terephthalic acid (PTA) softening to a low of around $850-860/tonne CFR (cost & freight) China Main Port (CMP), on the back of stable-to-soft conditions in the downstream polyester sectors.
Towards the end of the quarter, prices rebounded to the $900s/tonne CFR CMP on limited availability, with inventories at producers’ facilities being described as low.
Furthermore, in the month of June, several PTA facilities in non-China markets were undergoing scheduled maintenance, adding on to an already tightly supplied market. As a result, the uptrend in PTA spot prices was supported.
In the key China market, several PTA producers were moving towards a cost-linked term formula basis to stem losses from firm production costs, largely attributed to high feedstock paraxylene (PX) prices. In June, the cost-linked formula in the country was largely accepted by downstream players, according to majority of the market participants.
However, going forward, the sustainability of this formula base remains uncertain, especially amid concerns on whether downstream polyester markers are able to sustain business with squeezed margins down the chain.
Updated to Q2 2014
The average prices of Chinese domestic purified terephthalic acid (PTA) decreased in April and in early May. After falling below yuan (CNY) 6,000/tonne, domestic PTA prices rebounded sharply from mid-May.
Prices of domestic spot PTA fell substantially after a brief rise in April. As contractual supply tightened in April, demand for spot PTA rose, and prices fluctuated in the range of CNY6,250-6,300/tonne in the first half of April. However, in the second half of April to early May, the futures market fell significantly, along with a pick-up in PTA plant operating rates, leading to a slump in spot prices. Spot prices fell to CNY5,940-5,980/tonne on 9 May, hitting four-year historical lows.
Subsequently, more bids were seen amid the low prices and downstream producers bought to cover their immediate needs, which led spot market prices to rebound very quickly in mid-May. In addition, some PTA producers pushed new contract settlement terms and there were also expectations of tighter supply in June as a few producers had plans to reduce operating rates. Consequently, prices rose sharply from end-May, surpassing the CNY7,000/tonne mark on 12 June and continued increasing through the second half of June.
Towards the end of the second quarter, some PTA producers cut down their plant operating rates due to paraxylene (PX) shortage. Amid tight supply, PTA prices rose further, reaching around CNY7,600/tonne by end-June.
Updated to Q2 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.