Europe April PTA rolls over, follows PX

25 April 2014 23:59 Source:ICIS News

LONDON (ICIS)--The European April purified terephthalic acid (PTA) formula contract price rolled over from March on Friday, following developments in upstream paraxylene (PX).

The PTA contract price stays at €732-762/tonne FD (free delivered) NWE (northwest Europe), according to ICIS calculations.

April PX was eventually confirmed at €900/tonne FD NWE, a rollover from March. An earlier initial March settlement at plus €25/tonne was not followed.  

Limitations in PTA output, be it due to technical problems, poor profitability or recent closure, are showing signs of affecting customers who have been heard to be seeking material from sources other than their usual supplier.

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By Caroline Murray