The US purified terephthalic acid price for November increased 1 cent/lb to 44.98 cents/lb ($991.62/mt) from the October level, market sources said Friday.
The settlement in the formula-based price came after a rise in the November 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 US PTA price following.
PTA is the primary feedstock for polyethylene terephthalate.
