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As PTA output increases, import volumes drop
21
Apr '10
China's imports of Purified Terephthalic Acid (PTA) registered 371,974 tons in February 2010, for a total import value adding up to US $354.3 million, while till March, in the current year, it totaled to 839,219 tons, for a cumulative value of $794.9 million.

The average price of February was $952.49 per ton and the cumulative average price was US $947.24 per ton in the current year, down 20.39 percent from the previous month, and 10.11 percent year on year. Import volume decreased 3.63 percent year on year.

Purified terephthalic acid (PTA) is widely used in chemical fiber, light industry, electronics, construction and other fields. For a long time, China's existing PTA production capacity has been less than domestic demand, which necessitated imports of PTA in large quantities.

In the period between 2001 and 2006, imports made up for more than 50 percent of total consumption. In 2001, dependence on PTA imports stood at 58.6 percent; in 2002 it was 64 percent; in 2003, 53 percent; in 2004, 56 percent; in 2005, 54 percent and in 2006, it amounted to 53 percent.

From 2007 onwards, imports of PTA began to gradually reduce in volume. In 2007, China's expansion of PTA production capacity registered 1.73 million tons / year which led to total production touching 10.239 million tons / year, up 20 percent year on year, which led import dependence to fall to 40.8 percent.

China's foreign dependency rate on imported PTA further decreased to 37.6 percent in 2008. Domestic PTA production capacity increased to 14.96 million tons in 2009, accounting for one-third of the global PTA production capacity, its dependence on PTA imports dropped to 29.3 percent.

In 2010, PTA production capacity in China will reach 16.76 million tons / year, apparent demand of this year is expected to reach approximately 17.60 million tons, therefore, China's import volume of PTA in 2010 will continue to reduce and its external dependence will decline further.

Fibre2fashion News Desk - China

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