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Spot purified terephthalic acid prices in Asia may fall further

June 20/2011

(ICIS) -- Spot purified terephthalic acid (PTA) prices in Asia may fall further after falling to a six-month low last week, on soft downstream demand and huge capacity additions in China over the next three months, industry sources said on Monday.


PTA spot prices shed USD 12-17/tonne (EUR 8-12/tonne) week on week to USD 1178-1.193/tonne CFR (cost & freight) CMP (China Main Port) on 17 June, after hovering at around USD 1.190-1.220/tonne CFR CMP for more than a month, according to ICIS.


Most market players are pessimistic about the PTA market in the third quarter with a total 2.7m tonnes/year coming on stream in China through August, amid a slowing down of demand from the downstream textile industry.


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