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Terephthalic acid prices, markets & analysis

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Market Overview

Updated to Q2 2021

Asia

Q2 saw PTA production loss of around 2.04m tonnes because of scheduled shutdowns. Operating rates in Taiwan were weighed down by water shortages. Chinese producers’ margins were squeezed due to mounting costs pressure from feedstocks PX and acetic acid, which had kept run rates low. The average operating rates of PTA facilities in China stood at around 78% in Q2.

Middle East and Turkish demand was steady, following tightly supplied European and US markets. Demand in domestic Chinese markets was relatively healthy, amid positive polyester production margins, and the peak demand season. Average operating rates of polyester facilities in China stood at around 88.7%. In India, demand weakened with reduced downstream run rates as the country grapples with the coronavirus pandemic.

Europe

INEOS Aromatics’ force majeure declaration on PTA out of Belgium on 3 March until end-May shortened the market and impacted the chain to PET. It coincided with significant and lengthy production problems at PKN Orlen’s PTA plant in Poland and a string of logistic curtailments that weighed on the markets. Logistics and imports were already an issue when shortages in Mexico exacerbated the situation.

Demand for domestic PTA increased at PET plants because of all the local PTA supply issues and the shipping delays affecting imported material for both products. This situation resulted in Indorama announcing a surcharge on its PTA throughout April. End-user requirements for downstream PET, however, remained subdued as it was impacted by quarantine restrictions.

US

Supply during Q2 was extremely tight as downstream PET producers faced supply shortages of PTA from Mexico.

Demand was strong in Q2 as buyers faced supply shortages of PTA from Mexico while trying to build inventories prior to hurricane season along the US Gulf Coast.

Regional Outlook

Updated to Q3 2021

US

Supply in Q3 is expected to remain tight as demand from the downstream PET sector continues to be strong. Consumption from this sector is likely to remain unchanged unless consumers’ buying patterns started during the pandemic switch back to pre-pandemic patterns.

Demand in Q3 is expected to be strong as consumption from the downstream PET sector remains robust through the summer and possibly beyond.

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How we can help

Whether you are buying or selling PTA, ICIS provides you with the right pricing data, analytics, news and market analysis you need to confidently plan and make your trades, as well as shape future strategies and maintain a competitive advantage.

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Services

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  • Key trading prices: Spot/contract, formula-based spot import/export and domestic for terephthalic acid on a daily and weekly basis

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  • Price alerts and market updates: Shifts in prices, breaking news, market developments and supply demand trends
  • Plant data: Production and capacity, plant maintenance and shutdowns
  • Feedstock/downstream information: Prices and market commentary on upstream commodities such as naphtha and downstream markets such as polyester fibres and polyethylene terephthalate (PET)
  • Weekly market sentiment: Near-term price direction and appetite of buyers and sellers
  • Supply and demand: Analysis of domestic and international supply and demand

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ICIS publishes daily and weekly pricing reports for PTA to help you keep track of trading prices, understand price drivers/fluctuations and set a benchmark for contract price settlements. Information covered in our price reports includes:

Asia

  • CFR China, CFR China Main Ports, CFR India Main ports Export
  • FOB Asia, FOB NE Asia main Ports Export
  • DEL Taiwan, DEL China
  • Ex-Warehouse China E

Europe

  • FWD NWE

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Each ICIS PTA pricing subscription comes with analytics tools that take away the hassle of developing your own analysis. Quickly access data such as:

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    • China-PTA

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Get a long-term view of the market with the ICIS Supply and Demand Data Service, which offers end-to-end perspectives of the PTA markets.

Gain quick access to data on import and export volumes, plant capacities, production, product trade flows, companies and route. With historical data from 1978 and forecasts available up to 2040, this powerful data and analytics service from ICIS helps senior management, strategists, business planners, regional-trade-flow-ptaanalysts and risk managers to:

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Methodology

Our Pricing Methodology: 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 worldwide. Confirmed deals, verified by both buyers and sellers, provide the foundation of our price assessments.

Interested to find out how we derive our prices? Find out more about our PTA methodology coverage here

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Naphtha

PET, Polyester

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