High season fails to boost European PET market
Distributors in Italy concluded some May deals with rollovers for West and South European PET last week and commented that they are projecting a stable trend for June as well. This week, another distributor sold South European PET at stable levels from last month. The seller noted, “Demand was good in the first half of the month, but it slowed down recently. For June, we are anticipating rollovers to decreases of around €20/ton considering the weak Asian and Turkish PET markets.” Many buyers elected to purchase import cargoes considering them to be more competitive amidst stable local offers. Even though sellers consider rollovers to be likely for June, buyers are expecting to see lower PET prices.
Looking at Italy’s import PET market, Indian, Indonesian and Turkish cargoes were traded at levels around €10-35/ton below the lowest price in the local market depending on the origin.
The West European PET market is also tracking a largely stable trend and import cargoes, which were offered at levels below the €900/ton threshold, attracted some buying interest. Some buyers in Germany concluded their May PET deals with rollovers from last month and commented that they expect prices to hover at around the current levels in June. A packaging producer in Belgium reported making some purchases from the local and import PET markets at stable levels from April. The buyer commented that the PET market is rather calm, adding that he expects to see rollovers to slight decreases in June.
To track weekly developments and see the latest prices in the West European PET market, please see our newly launched NWE Weekly PET Analysis (For members only)
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