Event: ICIS Asia PTA Markets Seminar
Date: 29 July (Tuesday)
Time: 10 am to noon
Venue: Forum, ICIS office
Address: 1 Changi Business Park Crescent, #06-01, Plaza 8@CBP, Tower A, Singapore 486025
Market dynamics for the Asian purified terephthalic acid (PTA) sector have been shifting on the back of new capacities being added in China. Capacity growth in Asia is estimated at 14-17% from 2013-2015. The bulk of these new capacities are coming from China, with the country looking to add another 27m tonnes/year of PTA by the end of this year.
As a result, China has been importing less PTA, with volumes falling to 2.14m tonnes in 2013 from a high of 7m tonnes in 2006.
Due to the sharp decline in imports into China, the prevailing CFR China Main Port assessment in the Asia PTA report currently only tracks less than or around 5% of the total PTA market share in the region.
At the same time, the spread between the para-xylene (PX) feedstock and PTA prices has been squeezed in the past few years, resulting in a shift in market dynamics to a cost-linked route to stem losses.
Through this forum, ICIS hopes to inform and engage market participants about the changes that will be introduced in the Asia PTA report to reflect the change in market conditions. This will also be a key opportunity for market participants to provide feedback and to engage our editorial team on our price assessments.