Polyethylene Terephthalate Weekly highlights,July 29.

Petrotahlil :Lower feedstock continues to drag China PET prices down

• Export prices down $20-40 

• Spot PTA declines $35 

• Limited trading amid buyers’ wait-and-see attitude 

• Ample inventory weakens buying appetite

• Export ($/ton): China 950-970 FOB | S. Korea 960-970 FOB

Import PET continues to follow PTA lower in SEA

• Import PET prices retreat by $15-40 

• Offers for Chinese, Korean PET extend losses 

• Spot PTA posts additional weekly loss of $35 

• Weak demand adds to softening 

• Thailand’s local PET market tracks a stable trend

• Import PET ($/ton): 950-980 CIF

Italy’s PET closes July with stability, eyes on costs and demand for Aug

• July market settled with rollovers 

• PET suppliers rather satisfied of July business 

• August PET outlook is foggy 

• PET prices may see small variations 

• Demand is closely monitored

• Local PET (€/ton): 950-1010

European PET players: August outlook is still cloudy

• Spot business concluded at unchanged levels 

• Divergent opinions about demand among sellers 

• Imports’ volatility makes them unattractive 

• Spot PX prices are lower in Europe, Asia 

• Aug PET should not see notable variations

• Local PET (€/ton): 950-1010

Local PET yields to ebbing demand, lower imports in Turkey

• Domestic producer applies $50 price cut

• Seasonal demand remains below expectations 

• Asian export PET prices continue to fall 

• Near-term expectations call for further softening

• Local PET ($/ton): $1130-1170 not inc VAT 

• Import PET ($/ton): China 970-980 CIF

Egypt’s PET markets end July on bearish note

• Import offers decrease by $30-40 

• Local offers further down by EGP300 

• Falling feedstock prices hurt sentiment 

• Further price falls expected for August

• Import PET ($/ton): 950-1030 CIF

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