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Export PET prices move below $800/ton in China

by ChemOrbis Editorial Team -
  • 14/12/2015 (03:38)
In China, export PET prices started the week with fresh decreases to break below the $800/ton FOB threshold for the first time since December 2008, according to data from ChemOrbis Price Index. ChemOrbis data also shows that PET prices on an FOB China basis have been steadily decreasing since May 2015.

A source from a local producer reported that they lowered their export PET offers to $790/ton FOB, cash at the start of the week due to worsening demand in the face of the recent significant losses in crude oil costs. “Buyers suspend their purchases as they are not feeling confident about making fresh purchases owing to weakening upstream markets. We believe that demand can only pick up if crude oil prices stabilize,” the source stated.

A trader based in Shanghai commented, “Demand remains quite weak as upstream prices continue to lose ground. We are not planning to build extra stocks for the moment.”

In China, overall export PET prices are currently reported at $780-800/ton on an FOB, cash equivalent basis.
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