Purified Terephthalic Acid Prices, Trend, Monitor & Forecast | ChemAnalyst
Purified Terephthalic Acid (PTA) Prices: During the Quarter Ending December 2023
North America
The Purified Terephthalic Acid (PTA) market in North America witnessed fluctuating sentiments throughout the fourth quarter of 2023, characterized by an initial bullish trend followed by a downturn in December.
Initially, the region faced a shortage of PTA supply, driving prices upward. This shortage was a result of limited inventory levels and reduced production rates at some manufacturers. Concurrently, demand from downstream industries like packaging and polyester remained moderate to high, bolstering overall market sentiment. Notably, the United States experienced significant changes in PTA prices, with surging prices attributed to inventory shortages and increased demand from plastic and polyester industries. Volatility in regional orders and challenges in meeting existing orders further constrained supplies, leading to price hikes.
However, December marked a downturn as demand for PTA stocks dwindled and year-end pressures to reduce inventories intensified. By the quarter’s end, the price of PTA in the USA stood at USD 1370/MT.
Get Real Time Prices of Purified Terephthalic Acid (PTA): https://www.chemanalyst.com/Pricing-data/purified-terephthalic-acid-pta-18
APAC
In the APAC region, the PTA market trended bearishly throughout the fourth quarter of 2023. The market began with moderate to high supply levels, resulting in a surplus in Japan. This surplus stemmed from market participants accumulating inventories and adopting destocking strategies toward year-end. Moreover, low demand in Japan’s downstream plastic and polyester industry led to decreased consumption and a halt in procurement sentiments among buyers, further contributing to the bearish market. Compared to the same quarter of the previous year, the current quarter saw a -7% pricing trend, with a -9% change from the previous quarter of 2023. Ultimately, these factors led to a downward price trend, with PTA FOB Tokyo in Japan priced at USD 588/MT by the quarter’s end.
Europe
The Purified Terephthalic Acid (PTA) market in Europe experienced mixed dynamics during the fourth quarter (Q4) of 2023, with a bullish trend in October and November followed by a bearish trend in December. This initial positivity was reinforced by a posted price increment of PTA in October, prompting European market players to follow suit. Initially, certain manufacturers faced slightly tight supply due to factors hindering production commencement. In Turkey, PTA prices were high as manufacturers reduced operational rates to safeguard profit margins, enabling suppliers to bolster their margins. Limited supply due to reduced production rates and increased input costs drove up market prices. However, destocking sentiments among market players reversed price momentum in December 2023, settling at USD 1070/MT for PTA CFR Izmir (Turkey).
Get Real Time Prices of Purified Terephthalic Acid (PTA): https://www.chemanalyst.com/Pricing-data/purified-terephthalic-acid-pta-18
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