News Code :
43130
Polyethylene Terephthalate weekly highlights.
Petrotahlil :
Uptrend gains speed in China PET market
• PET prices up for third week in a row
• Export, local prices up 6-7% on week
• PTA prices jump, supporting weekly PET gains
• China’s PET stocks are low
• Export ($/ton): China 1010-1045 | S. Korea 1030-1040 FOB
PET market jumps higher on costs in SEA
• Import PET offers rise $40-50 on week
• Import PET offers below $1000 threshold disappear
• Spot PTA prices up further by $30 on week
• Chinese sellers maintain firm stance on low stocks
• Thai producer hikes local PET offers
• Import PET ($/ton): 1000-1060 CIF
PET demand improves on hot weather in Italy
• July PET offers are currently stable
• MEG fully agreed €25 lower for July
• Hot weather helps demand to recover
• Sellers may seek increases on better demand
• Local PET (€/ton): 950-1010
European PET prices stabilize amid better demand
• July prices show up with rollovers
• July MEG closed down by €25
• Better demand on warmer temperatures
• Higher imports don’t catch buyers’ interest
• Buyers think that downtrend is not over yet
• Local PET (€/ton): 950-1010
PET prices rise further in Turkey, sustainability under discussion
• Import origins move towards $1050 CIF level
• Local producer raises list prices by $25
• Sellers aim to recover their margins
• Large buyers wait on the sidelines
• Import offers on the high end failed to work
• Local PET ($/ton): $1170-1200 not inc VAT
• Import PET ($/ton): China 1050-1060 CIF
Small gains seen in Egypt’s import PET offers
• Prices below $1000 disappear
• EIPET offers climb $10-70 from last week
• Distribution market steady
• Higher PTA and crude oil strengthen sentiment
• Import PET ($/ton): 1000-1100
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