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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Updated to Q2 2015
The European purified terephthalic acid (PTA) market was and still is coping with a lack of product from the Portuguese producer, Artlant PTA. Material from this 700,000 tonne/year plant is scheduled to resume output in September.
Until then, buyers are reliant both on imports and on the only other two operational non-integrated PTA sites in Europe – BP’s facility in Belgium and PKN Orlen’s in Poland.
Following months of falling prices, the value of PTA was trending upwards from March until a rollover in June.
Monthly PTA prices were dominated by the direction of upstream paraxylene (PX) contract values as well as PTA demand/supply dynamics.
Q2 European PX spot and contract prices were on a generally upward momentum, with shortages in Asia the key factor. On 6 April a blast at a major Chinese PX producer caused tightness and rising price pressure. June was finally done at a rollover, but faced strong resistance from buyers looking for decreases.
Downstream polyethylene terephthalate (PET) prices rocketed on the back of good pre-season demand, scarce imports and soaring production costs.
Updated to Q2 2015
The US purified terephthalic acid (PTA) market during the quarter mainly reacted to the change in the formula contract by BP.
BP is the sole producer of PTA. Material is sold on a formula basis. The company implemented a 3-cent increase in the formula due to raw material costs, sources said.
That change had a broad impact on the US PTA market
The US PTA contract price is not freely negotiated and is formula-dependent on the US PX price delta for the month in which it is settled. PX prices during the quarter saw increases mainly due to a shortage after an explosion at a PX supplier in Asia.
So the US PTA market during the quarter was impacted by the increased base contract formula, as well as tight PX supply. As a result, PTA contract prices increased 8 cents from February to May.
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.
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