December’s PTA contract was heard at 47.52 cents/lb delivered but was expected to go up about 2 cents/lb in January due to higher PX contracts. January PX CP’s were not settled but participants anticipated at least a 3 cents/lb increase. There were no supply interruptions talked this week and demand was seasonally slow for downstream PET bottle resin. In market news, Selenis Canada announced it will revamp Shell Chemicals old PTT plant to a PET unit capable of producing 150,000 mt/year of the resin. At full rates the plant would require 100,000 mt/year of PTA.
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