Global PTA prices inch down last fortnight

20 Jan '14

2 min read

Global prices of purified terephthalic acid (PTA) moved downwards in the last fortnight ending January 15, 2014, due to poor upstream energy values and weakening buying interests.

In S E Asia and F E Asia, PTA prices were assessed in the range of US$ 980-985/ton in the last fortnight, down 1.5-2 percent as compared to the previous fortnight ending December 31, 2013. The declining trend continued and prices were assessed at $965/ton and $960/ton in S E Asia and F E Asia, respectively, on January 17, 2014.

In India, the average price of PTA was $1015/ton in the last fortnight, down 1.46 percent over average price of $1030/ton in the previous fortnight. The downtrend continued and price was quoted at $990/ton on January 17.

In the Chinese international market, selling offers for PTA were assessed in the range of $985/ton to $990/ton at the end of the first half of the last fortnight. The prices plunged and were offered in the range of $960/ton to $965/ton in the second half of the last fortnight.

In the Chinese domestic market, PTA prices were quoted in the range of RMB 7300/ton to RMB 7330/ton at the end of the first half of last fortnight. In the second half of the last fortnight, selling offers dipped and were quoted in the range RMB 6850/ton to RMB 6880/ton.

However, Sinopec settled its PTA contractual price at RMB 7635/ton for January delivery, which represented steady trend from December.

In Europe, average price of PTA was €880/ton in the last fortnight, a decrease of 5.38 percent as compared to the average price of € 930/ton in the previous fortnight.

In US, the average price of PTA in the last fortnight was 60.00 cents/pound, which was a drop of 6.25 percent from the average price of 64.00 cents/pound in the previous fortnight.

Fibre2fashion News Desk - India

More Textiles News - Global...