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Export PET prices break below the $1000/ton threshold in China

by ChemOrbis Editorial Team -
  • 18/12/2014 (13:24)
Players in China report that export PET prices in the country broke below the $1000/ton threshold this week. According to data from ChemOrbis Price Index, export PET bottle prices on an FOB China basis are currently hovering around their lowest levels since April 2009.

A source from a Chinese producer reported that they lowered their export PET offers by $70-80/ton to $960-970/ton FOB China, cash. He commented, “Players feel that the market has further room to decline before reaching the bottom as upstream costs are persistently weakening. We are not optimistic regarding the near term outlook as demand is still not showing any signals of improving despite the approaching Christmas holidays.”

A Shanghai-based trader also reported that they received export PET prices in the range of $950-980/ton FOB, cash from different sources. He stated, “Most PTA producers will soon restart their plants after maintenance, which means that higher PTA inventory levels will also support the current bearish trend in spot markets. Hence, we expect to see further decreases in the near term.”

In China, export PET prices are currently reported at $950-1030/ton on an FOB China, cash equivalent basis.
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