PTA-PX margin falls to 8-year low

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

Add Mettisglobal as a Trusted Source on Google

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.

Copyright Mettis Link

Related News

Name	Price/Vol	%Chg/NChg
KSE100	180,104.61 388.90M	-0.11% -206.60
ALLSHR	108,838.05 888.10M	-0.14% -150.10
KSE30	53,603.57 82.09M	-0.20% -109.40
KMI30	252,988.26 112.53M	-0.14% -356.16
KMIALLSHR	69,789.36 622.55M	0.02% 11.95
BKTi	51,939.19 21.86M	-0.35% -181.79
OGTi	35,691.88 10.10M	0.01% 3.44

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	63,340.00	63,340.00 62,800.00	365.00 0.58%
BRENT CRUDE	88.82	88.95 86.20	1.75 2.01%
RICHARDS BAY COAL MONTHLY	110.00	110.00 110.00	-0.65 -0.59%
ROTTERDAM COAL MONTHLY	122.30	122.30 122.30	0.30 0.25%
USD RBD PALM OLEIN	1,175.00	1,175.00 1,175.00	0.00 0.00%
CRUDE OIL - WTI	82.40	0.00 0.00	0.00 0.00%
SUGAR #11 WORLD	16.60	16.85 16.50	-0.22 -1.31%