Export PET deals concluded with discounts in China
A trader based in Changzhou reported that they were able to sell some export PET cargoes at $850/ton FOB China, cash after conceding to a discount of $10-20/ton. He commented, “PX and PTA prices continued to post decreases this week while plunging crude oil prices are keeping buyers on the sidelines.”
A second trader who is operating in Shanghai also reported concluding export PET deals at $850/ton FOB, cash after agreeing to $10-20/ton discounts. He said, “Buyers mostly prefer prompt cargoes nowadays due to the approaching Chinese New Year holidays as they are struggling to predict the possible direction of the market in the post-holiday period. We hear that deals in the local market have dropped below the CNY6000/ton ($840/ton without VAT) threshold while we afraid that export prices may touch levels even below $800/ton FOB over the near term.”
In China, export PET prices are currently standing at $850-900/ton FOB China, cash equivalent basis.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- India import PVC market recedes from all-time high on COVID-hit demand
- Stats: China’s total PP, PE imports in Q1 mark lowest volume in a year
- Vietnamese PE buyers hold off purchases on fears of further price pullback
- European PS on brink of a softer trend after 6 months
- Turkish PP and PE players voice bearish expectations for May
- China’s local homo-PP prices slide below imports
- Irregular PE origins emerge at competitive prices in Europe
- Mid-Eastern sellers backpedal in Africa on competitive PP, PE offers from Asia
- European PVC set to extend longest rising streak into May
- Downtrend continues in Turkish PP, PE markets amid Ramadan lull