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Asian PTA prices show downtrend last fortnight
Mar '14
In Asian markets, the prices of purified terephthalic acid (PTA) showed downtrend in the last fortnight ending February 28, 2014, compared to the previous fortnight ending February 15, 2014, due to bearish sentiments in feedstock prices coupled with weak upstream energy value.
In Southeast Asia, the average price of PTA in the last fortnight was US$ 915/ton, which was a decline of 4.7 percent over the previous fortnight’s average price of $960/ton.
The average PTA price in February was $935/ton in Southeast Asia, registering a sharp drop of 21.43 percent as against the average PTA price of $1190/ton recorded in the same month in 2013.
The downtrend of February continued in the first week of March and PTA price on March 6, 2014, was assessed at $905/ton in Southeast Asia.
In Far East Asia, the average price of PTA in the last fortnight was $915/ton, showing a fall of 4.19 percent compared to the average price of $955/ton in the previous fortnight. Continuing with the downtrend, the price further dropped to $900/ton on March 6, 2014.
In the Indian market, the average PTA price in the last fortnight decreased by 4.06 percent to $945/ton from the average price of $985/ton in the previous fortnight. The downtrend continued and PTA price was quoted at $930/ton on March 6, 2014.
In Europe, however, the average price of PTA price remained stable at € 880/ton in the last fortnight, due to poor buying sentiments.
In the US market, too, the average price of PTA stayed steady at 60.00 cents/pound in the last fortnight due to poor support from the downstream market.
PTA is consumed in polyester production, including polyester fibre, polyethylene terephthalate (PET) bottle resin and polyester film.

Fibre2fashion News Desk - India

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