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PTA Nov average price declines m-o-m in Southeast Asia
07
Dec '13
In Southeast Asia, the average price of purified terephthalic acid (PTA) in November 2013 declined by 3.4 percent compared to the average price in October.
 
The decline was much greater on a year-on-year basis at 9.43 percent, with average PTA price being US$ 995/ton in November 2013, as against average price of US$ 1100/ton in November 2012.
 
In November 2013, the average PTA price in Southeast Asia was US$ 1005/ton in the first fortnight of the month ending November 15, which dropped by 1.25 percent to US$ 990/ton in the second fortnight of the month ending November 30. However, price was assessed at US$ 1005/ton on December 5, 2013.
 
In Far East Asia, the average PTA price in the last fortnight ending November 30 was US$ 985/ton, showing a drop of 1.5 percent compared to the average price of US$ 1000/ton in the previous fortnight ending November 15. On December 5, PTA price was offered at US$ 1000/ton.
 
The average CNF India price of PTA in the last fortnight was US$ 1015/ton, registering a dip of 1.46 percent over the previous fortnight’s average price of US$ 1030/ton. However, PTA price rebounded and was quoted at US$ 1030/ton on December 5, 2013.
 
The decline in PTA prices in Asian markets during November 16-30 fortnight was due to weak demand coupled with poor feedstock price.
 
On the other hand, PTA prices remained stable in the US and European markets at 64 cents/pound and € 930/ton, respectively, during the same fortnight, owing to mute buying sentiment.
 

Fibre2fashion News Desk - India

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