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Updated to Q2 2017
The purified terephthalic acid (PTA) market tightened following a force majeure in February declared by BP on its Geel, Belgium assets, which have 950,000 tonne/year and 375,000 tonne/year capacities respectively.
At the start of April, the firm lifted the force majeure and, by the end of the month, Indorama Ventures Ltd (IVL) began expansion of its Rotterdam, the Netherlands PTA facility with the planned work scheduled to last for five weeks.
The enlargement will give the plant a total capacity of 600,000 tonnes/year.
April PTA prices decreased by €25/tonne, as the monthly contract is calculated using upstream paraxylene (PX) settlements which also softened in the same month.
May saw an increase in imports from South Korea after the European Commission, in April, proposed terminating anti-dumping investigations into South Korea-origin PTA with no duties imposed. The May contract for PTA eventually declined by €18/tonne after feedstock PX settled in the month with a fall in value.
Coming into June, participants said the market had become balanced to long; a reversal from the tightness experienced earlier in the year.
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.