News Code :
42883
Import PET prices sink to 4-month low in Turkey
Petrotahlil :
Import PET prices sink to 4-month low in Turkey
• Depreciation of TRY/USD curtails activity
• Local PET sold below $1250 threshold
• Import offers down $10-20/ton further on week
• Upcoming rerun of elections causes cautiousness
• Spot PX hits one-and-a-half year low on FOB Korea
• Local PET ($/ton): Deals $1220 not inc VAT
• Import PET ($/ton): China 1090-1130 CIF
Import PET drifts lower in SEA on scant demand
• Import PET retreats further by $5-20 on week
• Demand remains limited to buyers’ needs
• Sentiment pressured by renewed trade war
• Spot PX hovers around multi-year lows in Asia
• Spot MEG posts a slight weekly decline
• Import PET ($/ton): 1070-1160 CIF
PET downtrend continues in China
• Export PET down $10/ton on week
• Local prices also retreat CNY200
• Demand remains thin despite season
• Asian PX hovers around lowest levels since Dec 2017
• Korean producer cuts export PET further
• Export PET ($/ton): 1070-1080 FOB China
PET market retreats further in Europe
• Sentiment is weak due to high inventories
• Weather conditions do not support the market
• Sellers concede to small discounts
• Import PET offers from Asia down
• Local PET (€/ton): 1060-1120 FD
Italy’s PET market stands at 5 month-low
• PET market remains bearish
• PET prices stand at 5 month-low
• Demand, lower feedstocks weigh on the market
• Sellers hope for improved weather conditions
• Local PET (€/ton): 1060-1120 FD
Egypt’s import and local PET markets remain in retreat
• Import PET offers down by $15
• Distribution market levels down by EGP100-200
• EIPET offers steady for fourth straight week
• Long supply, weak demand pressuring markets
• Import PET ($/ton): 1100-1160 CIF
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