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PTA prices drop in Asian markets last fortnight
23
May '14
The prices of purified terephthalic acid (PTA) decreased in Asian markets in the last fortnight ending May 15, 2014, compared to the previous fortnight ending April 30, 2014.
 
Selling offers for PTA declined in Asian markets in the last fortnight due to bearish buying sentiments coupled with a plunge in upstream energy value.
 
In S E Asia, the average price of PTA declined by 1.69 percent to US$ 875/ton in the last fortnight, as compared to the average price of $890/ton in the previous fortnight. Compared to the average price of $1055/ton in the first fortnight of May 2013, the price has dropped by 17.3 percent. On May 22, 2014, PTA prices were assessed at $890/ton.
 
In F E Asia, the average price of PTA dropped by 2.26 percent to $865/ton in the last fortnight, as compared to the average price of $885/ton in the previous fortnight. On May 22, prices were assessed at $880/ton.
 
In India, the average price of PTA dipped by 2.15 percent to $910/ton in the last fortnight, vis-à-vis the average price of $930/ton in the previous fortnight. On May 22, prices were assessed at $920/ton.
 
In the Chinese domestic market, PTA offers were quoted in the range of RMB 5,950/ton to RMB 5,980/ton at the end of the first half of the last fortnight. In the second half of the fortnight, selling offers increased and were offered in the range of RMB 5,950/ton to RMB 6,000/ton.
 
In the Chinese international market, selling offers for PTA declined by $15/ton and were offered in the range of $860/ton to $865/ton in the first half of the last fortnight, while selling offers for PTA prices inched down by $10/ton and were offered in the range of $850/ton to $855/ton in the second-half of the last fortnight.
 
In Europe, the average PTA price in the last fortnight remained stable at € 880/ton, due to firm energy prices.
 
In the US, the average price of PTA in the last fortnight was 60 cents/pound, same as the previous fortnight, due to mute buying sentiments.
 

Fibre2fashion News Desk - India

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