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PTA prices drop in Asian markets last fortnight
08
Nov '13
The prices of Purified Terephthalic Acid (PTA) declined in Asian markets during the fortnight ending October 31, 2013, due to bearish upstream energy value coupled with poor demand in the region and ample product availability, whereas they remained stable in Europe and the US due to muted buying sentiment.
 
In Far East Asia, average PTA price dropped by 4.29 percent to US$ 1005/ton in the last fortnight ending October 31, compared to average price of US$ 1050/ton in the previous fortnight ending October 15.
 
In Southeast Asia, average price of PTA was assessed at US$ 1010/ton in the last fortnight ending October 31, which was 4.27 percent lower compared to the previous fortnight.
 
In Indian market, PTA prices showed similar trend and the average price was assessed at US$ 1035/ton CNF India, as compared to the average price of US$ 1080/ton in the previous fortnight.
 
PTA prices remained stable in Europe and US at € 930/ton FD NWE and 64.00 cents/pound FOB US, respectively, during the fortnight ending October 31.
 
On November 7, 2013, PTA prices were assessed at US$ 1000/ton in Far East Asia, US$ 1005/ton in Southeast Asia and US$ 1030/ton in India.
 

Fibre2fashion News Desk - India

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