Terephthalic acid Prices, markets & analysis
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Terephthalic acid Europe Transcript
The European purified terephthalic acid (PTA) market is highly dependent on the exciting world of the PTA feedstock paraxylene (PX), also on PTA capacity and its developments and downstream PET activity. All of this is accurately described in the ICIS report.
The weekly updates hosts free delivered (FD) northwest Europe (NWE) monthly contract prices for PTA and for PX. The previous year’s PTA prices are also included as well as a dollar per metric tonne conversion, crucial for making informed decisions about this global commodity.
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The supply of purified terephthalic acid (PTA) was tight in the second quarter, because of plant shutdowns. Artlant PTA’s 700,000 tonne/year plant in Sines, Portugal was said to be down and not expected to be back on line until September. PKN Orlen started a scheduled shutdown at its 600,000 tonne/year PTA plant in Wloclawek, Poland in May and ended it in June.
With so much of the industry now operating more on a spot basis than in previous years, buyers had felt the strain on supply availability. South Korean product had also been rather scarce recently. Yet buyers said they could acquire spot material without a problem in June.
Formula-based PTA contract prices followed upstream paraxylene (PX) prices, which were flat in April and May, but increased by €30/tonne in June. PX supply continued to be tight globally, with low plant operating rates in Asia drawing product into the region. Spot availability was said to very limited in Europe. As a result, spot prices rose sharply in June, despite low end-user demand.
Updated to Q2 2014
US purified terephthalic acid (PTA) contract rose from August to September before declining in October as it tracked the movement of upstream PX, on a formula-based correlation.
The contract price rose 2% from 62.52 cents/lb DEL in August to 63.86 cents/lb DEL in September, on a formula-based correlation. The price then dropped by the same amount in October, returning to the same level it was at in August.
The monthly PTA contract price is not freely negotiated and, for the purpose of the ICIS assessment, its movement is equivalent to 67% of the US PX price delta for the month in which it is settled.
Updated to mid-November 2013
The European purified terephthalic acid (PTA) market is highly dependent on PTA feedstock paraxylene (PX), PTA capacity and its developments, and downstream PTA activity. These factors are accurately described in the ICIS report.
The weekly updates hosts free delivered (FD) northwest Europe (NWE) monthly contract prices for PTA and for PX.
The previous year’s PTA prices are also included as well as a dollar per metric tonne conversion, crucial for making informed decisions about this global commodity.
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.
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