The US purified terephthalic acid price for July decreased 0.46 cent to 41.68 cents/lb ($918.88/mt) from the June level, market sources confirmed Friday.
The settlement in the formula-based price came after a fall in feedstock contracts. The July US paraxylene contract fell 1 cent to 39.75 cents/lb ($876.33/mt), sources said.
The July PTA price is the lowest contract price since October 2016 when it was 41.49 cents/lb, according to S&P Global Platts data.
US PX contracts typically settle retroactively, with the formula-based US PTA price following.
PTA is the primary feedstock for polyethylene terephthalate.
