PTA-PX margin falls to 8-year low

MG News | March 17, 2022 at 05:06 PM GMT+05:00

0:00

March 17, 2022 (MLN): Purified Terephthalic Acid and Paraxylene (PTA-PX) margin has fallen to 8-year low to stand at $38/ton on March 17, 2022, down by 81% WoW, a note by Foundation Securities cited.

The PTA price has declined to $865/ton today, down by 14% WoW, due to weak demand from the downstream polyester industry given high polyester staple fibre (PSF) prices.

Whereas, PX price has risen by 3% WoW to $1,235/ton. Resultantly, the PTA-PX margin has fallen to $38/ton today from $201/ton last week, down 81% WoW. While average PTA-PX margin was $132/ton during CY21.

The fall in PTA-PX margin will bode negatively for LOTCHEM profitability which has a breakeven of $83/ton, it added.

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