Chinese PET producers decrease export offers
A source from a Chinese PET producer reported that they decreased their export offers by $20/ton from last week to $915/ton FOB China, cash. Meanwhile, the producer elected to keep its local offers stable at CNY7250/ton ($907/ton without VAT) on an ex-warehouse China, cash including VAT basis.
Another Chinese producer also lowered its export offers by $5-15/ton when compared to two weeks ago to $905-915/ton FOB China, cash basis.
A source from the producer commented, “Sellers are revising their offers based on MEG prices while the market sentiment is not finding any support from crude oil prices nowadays. We think the sales pressure will become more visible in the days ahead in line with the start up of new capacities.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
- Import PE markets give softening signals in China, SE Asia
- PVC supplies tight, demand robust across Europe
- China’s local PP, PE markets snap nine-week rally
- Turnarounds keep PP supply tight in SE Asia
- European PP market sees step backs from initial July offers
- Focus turns to August in Turkey: PP and PE players sidelined amid blurry outlook
- SEA PE uptrend intact, yet increases capped by reduced demand