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Chinese PET producer implements further price decreases

by ChemOrbis Editorial Team -
  • 21/10/2014 (10:34)
A source from a Chinese producer reported that they have implemented further decreases on their export and local PET prices due to persistently sluggish demand. They reduced their export PET prices by $10/ton to $1120-1130/ton FOB China, cash and lowered their local offers by CNY100-200/ton ($16-32/ton) to CNY7900/ton ex-warehouse China, cash including VAT ($1100/ton without VAT).

The source stated, “Demand remains subdued as buyers are still expecting to see further reductions. Local PTA supplies are still sufficient, yet we feel that PET prices are nearing the bottom after the recent decreases.”

According to data from ChemOrbis Price Index, local PET prices in China are currently hovering around their lowest levels since October 2009 while export PET prices are standing at their lowest levels since August 2010.
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