Chinese producer raises export, local PET prices
The producer raised their export PET offers by $5-10/ton to $975/ton FOB China, cash while their local prices are up by CNY100/ton ($14/ton) from last week to CNY8150/ton ($1001/ton without VAT) on an ex-warehouse China, cash including VAT basis.
The source opined, “Demand in the local market is better than the export market. We have backlogs to clear and we think our supply will remain slightly tight until after Chinese New Year. We are not feeling any sales pressure and our offers are not open to negotiations. In the near term, we expect prices to remain at the current firm levels.”
Informing about their new PET line, the source also said, “We will launch a new PET line with a 250,000 tons/year production capacity at the end of March. We expect this line to improve both our production and supply.”
Meanwhile, the producer’s offers for PET bottle to Southeast Asia markets currently stand at $980-985/ton CIF SEA, cash basis.
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