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Updated to Q4 2016
Purified terephthalic acid (PTA) started the third quarter with a negative delta for its October contract. This was reversed in November, setting off an upward price trend; December's PTA contract price was an annual high. It was otherwise a weaker quarter in terms of pricing with PTA prices having a stronger showing in the second quarter. The aforementioned prices were calculated on a monthly basis using 67% of the movement of upstream paraxylene (PX).
Regarding supply and demand, the start of October was tight for the market due to PKN Orlen’s force majeure on its Polish plant. The company announced the restart of its Polish plant on 7 November and the market was then described as balanced until the end of the year.
Industry trade has been affected by the European Commission’s anti-dumping investigation into the imports of PTA and its salts originating from South Korea. The investigation will cover the period from July 2015 to June 2016 and a decision will have to be made by 3 May 2017.
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.
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.