Export PET prices break below the $1000/ton threshold in China
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.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Asian PS, ABS markets remain weak on rising trade tensions
- Spot styrene sharply down in Europe and Asia
- Expectations soften for PP raffia, fibre yet to follow in Turkey
- Will PE supplies from China flock to SEA?
- LDPE, LLDPE highest since Q3 2018; HDPE at 6-month high in Europe
- Intensifying trade war adds to bearishness in China’s local PP, PE markets
- PET prices hit multi-month lows in Asia and Europe
- Rising momentum fizzles out in European PS, ABS markets
- European PVC offers to Turkey shrug off higher costs
- Asian PVC players hold firm expectations for June