The US October purified terephthalic acid price increased 0.50 cent to 41.49 cents/lb ($915/mt), tracking the movement in the feedstock US October paraxylene contract, sources said Friday.
The formula-derived PTA price uses the US PX contract price as the key variable, according to sources. US PX contracts settled at an increase of 0.50 cent to 40 cents/lb, sources said. US PX contracts typically settle retroactively, with the PTA price being finalized after that settlement.
The US PX and PTA prices fell within market expectations that mostly called for flat to slightly higher pricing.
PTA is the primary feedstock for polyethylene terephthalate.
Downstream US PET was assessed Wednesday at $1,069-$1,091/mt (48.5-49.5 cents/lb) DDP US West Coast.
