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Global PTA prices inch down last fortnight
20
Jan '14
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

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