Further PET price hikes on horizon in Europe
A distributor in Switzerland reported concluding some deals for European PET material with €40/ton increases at €980/ton FD Germany, 60 days while also noting that he is offering with larger hikes for a different West European origin. The seller added, “Although buyers did some pre-buying in December, they will need to return to the market to replenish soon due to the firmer expectations for next month. We expect PET prices to increase by around €50/ton in February. We have also sold some import material for Korean and Southeast Asian origins with February delivery at €990-1000/ton DDP Italy, 60 days.”
A converter in Italy reported that they did not purchase this month as they have comfortable stocks, commenting, “Our suppliers expect PET prices to continue increasing between February and March.” The buyer added that reduced import volumes into Europe also paved the way for higher prices in the PET market. Besides, import offers are not offering a competitive edge for European buyers on the strengthening US dollar.
Local PET prices are currently reported at €980-1020/ton both in Italy and Northwest Europe on local terms.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Asia PVC markets see longest rising streak ever on extreme tightness
- Africa polymers: October offers higher amid reduced availability
- Stable to softer PE trend prevails in Europe amid soft demand, poor netbacks
- Turkey’s PP and PE markets move up, but riddled with uncertainties
- India, SEA PVC markets unlikely to take respite from bullish run for November
- Southeast Asia PET markets move sideways during China’s absence
- Egypt’s import PE market up on tight supply, domestic offers follow suit
- Will European PS, ABS track divergent paths for another month?
- Turkey PP and PE regain premium over China, LDPE fails to make a sprint
- Strong netbacks and demand trigger exodus of PVC from China to export markets