News Code :
42665
China’s PET market supported by VAT cut
Petrotahlil:
China’s PET market supported by VAT cut
• PET bottle prices from China stable to up
• Limited supplies keep Chinese PET firm
• Bullish crude oil futures also support sentiment
• Spot PTA, MEG edge lower by $5 on week
• Korean PET down for first time after 6 weeks
• Export PET ($/ton): 1110-1140 FOB China
Slow demand, weak upstream weigh on Italian PET market
• Initial offers and deals are stable to softer
• MEG, PX contracts are awaited
• Spot PX prices are softer on weekly basis
• Demand is still not vivid
• Local PET (€/ton): 1090-1150 FD
PET sellers track divergent pricing policies in SEA
• S. Korean producer cuts offers after 6 weeks
• Chinese PET supported by limited supplies
• Local PET prices in Thailand flat prior to Songkran
• Spot MEG, PTA edge down by $5 on week
• Brent oil climbs above $70/bbl threshold
• Import PET ($/ton): 1120-1140 CIF
Turkey’s PET market holds steady despite firmer costs
• Cautious demand overshadows seasonality
• Parity concerns still in place
• Crude oil futures hit 5-month high
• Buyers foresee stability in the short term
• Local PET bottle ($/ton): 1375-1400 cash | 1475 60/90 days
• Import PET ($/ton): China 1140-1160 CIF
PET sentiment fails to improve in Europe
• Players wait for monomer contracts to settle
• April deals see stable or softer prices
• Fundamentals are balanced
• Improvement in demand is still awaited
• Local PET (€/ton): 1090-1150 FD
Sentiment firms up in Egypt’s PET market
• Import PET offers up by $10-20
• Local market steady to EGP100 higher
• Demand gradually improves, yet purchases kept to minimum
• Question marks raised over the sustainability of the trend
• Import PET ($/ton): 1140-1190 CIF
