Downward PET trend confirmed by lower costs in Europe
A South European producer started giving January PET offers with decreases of €20/ton from their December deals. A producer source reported, “Buyers started making price inquiries today, but they are taking a waiting stance in anticipation of further price cuts given lower feedstock costs. However, we are seeking to limit our discounts to €20-30/ton to preserve our margins.”
A distributor in Germany is offering West and South European PET down €20-30/ton for January. The seller confirmed the cautious stance on the buyers’ side, caused by expectations of further softening, but said that he is unsure about additional decreases.
A packaging producer in Belgium reported receiving January PET offers with decreases of €20-30/ton from a West European supplier. The buyer reported seeing regular demand for his end products and added that he projects further price cuts considering weaker feedstock costs.
In Italy, another distributor lowered his January PET prices by €20-30/ton from last month, commenting, “We expect to receive more price inquiries from buyers this week while some of them received their import shipments recently so they aren’t rushing to make new purchases.” A packaging producer received initial January PET offers with discounts between €15-30/ton for West European material and said that he doesn’t expect to see any notable changes for the remainder of the month. Spot PET prices in Italy are currently standing around €50/ton above multi year lows.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- March PE prices take split paths in Africa, Mid-East
- Asian PS markets touch 4-month high amid volatile styrene
- Turkey’s PP market attracts deep-sea origins at 4-month high
- European ABS rebounds from 3-year low
- Firming persists in Vietnam’s PE market, shrugging off ethylene
- European styrene continues to climb up, Asia remains cautiously firm
- PP market up from a year-low in Europe; yet hikes beyond C3 see resistance
- Asian ethylene slumps on supply glut
- Ebbing demand in India weighs on April PVC outlook
- Asian PET markets trend higher on firmer costs, nearing high season