Europe January PTA rolls over and increases alongside PX

31 January 2014 23:59 Source:ICIS News

LONDON (ICIS)--European purified terephthalic acid (PTA) formula contracts to polyethylene terephthalate (PET) producers rolled over at the bottom of the range and increased by €8/tonne at the top end on Friday from December to January.

January PTA is valued at €836-874/tonne FD (free delivered) NWE (northwest Europe), according to ICIS calculations done with upstream paraxylene (PX).

In the absence of any clear confirmed January settlement in the European (PX) market, the monthly contract number was assessed at €1,055-1,067/tonne, representing the €12/tonne increase seen in the initial settlement at the high end and a rollover from December at the low end of the range.

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By Caroline Murray