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PTA prices decline in Asian markets last fortnight
Feb '14
The prices of purified terephthalic acid (PTA) declined in Asian markets in the last fortnight ending January 31, 2014, due to lack of demand in key markets like China because of the Lunar New Year holidays coupled with poor upstream energy value.
In Southeast Asia, the average price of PTA in January 2014 was US$ 975/ton, which is a decline of 17.83 percent compared to the average price of $1185/ton during the corresponding month last year. On a month-on-month basis, the average price declined by 3.08 percent, against the average price of $1105/ton in December 2013.
In the last fortnight, PTA average price was $960/ton, showing a decrease of 2.88 percent compared to the average price of $985/ton recorded in the previous fortnight ending January 15, 2014. On February 6, 2014, PTA price in Southeast Asia was assessed at $960/ton.
Showing a similar trend, in Far East Asia, too, compared to the previous fortnight, the average PTA price in the last fortnight dipped by 2.04 percent to $960/ton. However, on February 6, price was quoted at $955/ton.
In the Indian market, average PTA price dropped by 2.46 percent to $990/ton in the last fortnight, as against the average price of $1015/ton in the previous fortnight.
In Europe, PTA price remained stable at €880/ton due to mute buying sentiments during the last fortnight.
In the US market, PTA price stayed steady at 60 cents/pound due to firm energy market in the last fortnight.

Fibre2fashion News Desk - India

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