China’s export PET market hits multi-year highs
Data obtained from ChemOrbis Price Wizard reveal that average export PET prices are currently standing at their highest since the latter part of May 2015 after following a mostly firming trend for more than two months.
A trader commented, “Our offers are firmer this week due to high MEG and PTA prices in Asia. Buying interest is still good, particularly from South America. We think the support from high costs has already overshadowed other factors including new capacities.”
A trader noted, “Export PET offers increased $10/ton when compared to two weeks ago. The lowest level we are offered is $1060/ton FOB this week.”
In China, export PET prices have firmed up by $20/ton so far to be reported at $1050-1070/ton FOB China, cash.
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