Aug expectations revealed in European PET market
A converter in the food packaging industry said, “We didn’t have difficulty in finding material in July as we had built good stocks in June. Otherwise, we are aware that supply is still tight as demand is high in line with the season.”
The outlook is stable to firmer for next month as the existing tightness might be counterbalanced by slowing demand; however, increase attempts are also deemed likely especially if the Asian market sustains its firming and returns with increases.
A buyer said that import offers were limited and uncompetitive due to the firming in their local markets.
A distributor in Italy confirmed that there might be further increases in the import market, although European producers are not giving a clue about what their August pricing policy will be. He added, “Prices may remain stable to slightly firmer; yet, activity is expected to slow down.”
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