The March US terephthalic acid contract appeared likely to move lower with stronger indications that feedstock PX contracts would decrease, according to industry sources. An unconfirmed report Friday had the PX contract settling at 79.5 cents/lb, down 4 cents/lb from December, which would be in line with market expectations given recent declines in spot PX prices. The PX contract settlement could not be confirmed by time of publication, but would likely result in a decrease of 3-3.25 cents for the formula-driven March US PTA price.
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