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November US PTA CP follows upstream PX higher

Houston — The US purified terephthalic acid price for November increased 1 cent/lbto 44.98 cents/lb ($991.62/mt) from the October level, market sources saidFriday.

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The settlement in the formula-based price came after a rise in theNovember US paraxylene contract price, which settled at 44.50 cents/lb($981.05/mt), up 1.50 cents/lb from October's level, sources said.

US PX contracts typically settle retroactively, with the formula-based USPTA price following.

PTA is the primary feedstock for polyethylene terephthalate.

--Anthony Garcia, anthony.garcia1@spglobal.com

--Edited by Derek Sands, derek.sands@spglobal.com