Platts proposes to discontinue European PTA contract price calculation, launch spot assessment

Platts, part of S&P Global Commodity Insights, proposes to discontinue its monthly European purified terephthalic acid contract price, effective June 1.

This follows the decision to discontinue the European paraxylene monthly contract price.

Platts published a decision note on this discontinuation on Jan. 4: https://www.spglobal.com/commodityinsights/en/our-methodology/subscriber-notes/010424-platts-to-discontinue-publication-of-monthly-european-px-contract-price

The PTA FD NWE monthly contract price is currently calculated by multiplying the industry-settled monthly paraxylene contract price (AALHZ00) by 0.66 plus a fixed premium of Eur140/mt.

Simultaneously, to continue providing insight into the PTA market in Europe, Platts proposes to introduce a daily European PTA spot assessment . The assessment would be derived by multiplying the daily spot paraxylene price (AAILD00) by 0.66 and adding an assessed premium.

The symbols impacted by the proposed discontinuation would be the PTA FD NWE Monthly CP Eur/mt - AACVW00, and the PTA FD NWE Monthly CP monthly average - AACVX00.

These appear on the fixed page PCA589 on Platts Market Centre and in the Polymerscan publication.

Please send all comments, feedback and questions to petchems@spglobal.com and pricegroup@spglobal.com by April 29.

For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing. Platts will consider all comments received and will make comments not marked as confidential available upon request.