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Domestic PET producer issues price hikes in Turkey

by ChemOrbis Editorial Team -
  • 04/03/2016 (13:29)
In Turkey, a domestic PET producer reported issuing higher list prices as the month of March started. A producer source cited improved demand as well as firmer upstream costs as the reasons behind their increase decision.

Accordingly, the producer lifted their prices by up to $50/ton this week to bring their list prices to $1000/ton, cash and $1050/ton, 120 days deferred payment, FD Turkey, not inc VAT. They concluded some deals at $1025-1030/ton on 120 days deferred payment basis.

“In Asia, MEG and PX prices witnessed significant increases and Asian PET markets are firming. We see good demand from our small-scaled customers while most large buyers are still resisting higher offers,” a producer source commented. The source expects to see a firming trend based on strong costs and active buying interest for the March-April period.

In upstream chain, spot PX prices were up $25/ton week over week on an FOB South Korea basis. Spot MEG prices were also up by $25/ton on a CFR China basis while PTA prices edged up nearly $10/ton in the same period.
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