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Asian PTA prices increase last fortnight
24
Apr '14
The prices of purified terephthalic acid (PTA) increased in Asian markets in the last fortnight ending April 15, 2014, compared to the earlier fortnight ending March 31, due to increase in feedstock prices, while the prices stayed stable in Europe and the US.
 
In F E Asia, the average price of PTA in the last fortnight was US$ 895/ton, which is an increase of 0.56 percent over the previous fortnight’s average price of $890/ton. On April 23, prices were assessed at $885/ton.
 
In S E Asia, prices showed similar trend as F E Asia and the average price was $900/ton in the last fortnight. On April 23, prices were assessed at $890/ton.
 
In India, the average price of PTA rose by 2.17 percent in the last fortnight to $940/ton, vis-à-vis the average price of $920/ton in the previous fortnight. On April 23, prices were assessed at $930/ton.
 
In the first half of the last fortnight, in Chinese market, selling offers for PTA increased and were quoted in the range of $895/ ton to $900/ton. In the second half of the last fortnight, selling offers for PTA declined by $10/ton and were quoted in the range of $885/ton to $890/ton.
 
In the Chinese domestic market, offers for PTA were assessed in the range of RMB 6,400/ton to RMB 6,410/ton at the end of the first half of the last fortnight. In the second half of the fortnight, selling offers for PTA plunged and were quoted in the range RMB 6,300/ton to RMB 6,310/ton.
 
However, average PTA prices were steady in Europe due to mute buying sentiments, and in the US due to firm energy market, in the last fortnight, at € 880/ton and 60 cents/pound, respectively.
 

Fibre2fashion News Desk - India

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