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Chinese PET producer cuts local and export prices

by ChemOrbis Editorial Team -
  • 06/08/2015 (14:43)
A source from a Chinese PET producer reported that they reduced their local and export offers in the face of slow demand. The source complained that buyers are still placing lower bids even after their reductions.

The producer cut their local PET prices by CNY100/ton ($16/ton) to CNY6800/ton on an ex-warehouse China, cash including VAT basis ($937/ton without VAT) while they lowered their export PET offers by $10/ton to $930-950/ton FOB China, cash.

The source stated, “Local demand is slightly better when compared to export demand. We are operating our plant at full capacity at the moment.” In Southeast Asia, meanwhile, the producer’s import PET prices stand at $940-960/ton on a CIF SEA, cash basis.
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