The US purified terephthalic acid price for December rose 1.01 cents to a 15-month high of 42.84 cents/lb ($922.40/mt), market sources said Friday.
The settlement in the formula-based price followed an increase in feedstock contracts. The December US paraxylene contract increased 1.50 cents to 42 cents/lb ($925.93/mt), sources said.
The December PTA price marks the highest since reaching 43.59 cents/lb in September 2015, according to S&P Global Platts data.
US PX contracts typically settle retroactively, with the formula-based US PTA price following.
PTA is the primary feedstock for polyethylene terephthalate.
