Chinese PET producer lifts export, local prices
When compared to last week , the producer raised their local PET prices by CNY50-100/ton ($7-14/ton) to CNY8500/ton on an ex-warehouse China, cash including VAT basis ($1056/ton without VAT) while they increased their export PET offers by $20/ton to $1065/ton FOB China, cash.
Regarding monomers, the source opined, “We think PTA prices still have room for further increases as they posted relatively smaller increases than MEG. Plus, many PX plants will undergo maintenance in the first half of 2017. Local demand is better in line with the warmer weather in China while export demand is weak given competitive Indian and Korean offers.”
Meanwhile, the producer’s import offers to Southeast Asia currently stand at $1070-1075/ton CIF SEA, cash basis.
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