Export PET prices from China, Taiwan drop further
by ChemOrbis Editorial Team - content@chemorbis.com
Chinese and Taiwanese producers implemented additional decreases on their PET bottle prices in the face of weaker upstream costs and slumping crude oil futures.
A Chinese producer reduced its export PET offer further by $30/ton from last week to $1150/ton FOB, cash. “Demand remains stagnant as buyers prefer to stay sidelined when prices track a downtrend,” a producer source noted.
According to a trader operating in Vietnam, export PET offers from China witnessed fresh drops of $10/ton from last week to reach $1060/ton FOB, cash. He attributed lower prices to softening upstream costs.
The overall range for export PET bottle prices on FOB China, cash basis currently stands at $1060-1150/ton, down $5-30/ton on a week over week comparison.
Meanwhile, a source from a Taiwanese PET producer also reported that they conceded to giving further discounts of $30/ton from their initial offer level and concluded a few deals at $1120/ton FOB, cash.
He commented, “Demand is quite slow amid growing uncertainties regarding the China-US trade war.”
In feedstock markets, spot PTA prices recorded a weekly decrease of $60/ton to be recently quoted at $840/ton CFR China while spot MEG prices also dropped by around $40-45/ton to reach $675/ton with the same terms.
A Chinese producer reduced its export PET offer further by $30/ton from last week to $1150/ton FOB, cash. “Demand remains stagnant as buyers prefer to stay sidelined when prices track a downtrend,” a producer source noted.
According to a trader operating in Vietnam, export PET offers from China witnessed fresh drops of $10/ton from last week to reach $1060/ton FOB, cash. He attributed lower prices to softening upstream costs.
The overall range for export PET bottle prices on FOB China, cash basis currently stands at $1060-1150/ton, down $5-30/ton on a week over week comparison.
Meanwhile, a source from a Taiwanese PET producer also reported that they conceded to giving further discounts of $30/ton from their initial offer level and concluded a few deals at $1120/ton FOB, cash.
He commented, “Demand is quite slow amid growing uncertainties regarding the China-US trade war.”
In feedstock markets, spot PTA prices recorded a weekly decrease of $60/ton to be recently quoted at $840/ton CFR China while spot MEG prices also dropped by around $40-45/ton to reach $675/ton with the same terms.
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