Import PET moves below $1100/ton CIF threshold in Turkey
by ChemOrbis Editorial Team - content@chemorbis.com
In Turkey, players started to report Chinese PET offers slightly below the $1100/ton CIF threshold towards the end of the week. They pointed to the swift decreases in China’s export market, where prices on FOB basis hit nearly a year low on a weekly average, as the reason behind the new falls.
The overall range for export PET bottle prices from China was last reported at $1030-1150/ton FOB, cash.
Buyers are sidelined to see fresh decreases as they assume that the bearish trend will remain in place next month, pointing to the lower crude oil prices. A player admitted, “Players are holding their purchases as they expect prices to hit the $1000/ton threshold.”
In the import market, the overall ranges for Chinese PET stood at $1080-1125/ton CIF Turkey, subject to 6.5% customs and 6.4% additional duty, cash, down by a weekly $30/ton on the low end. Although PET offers below the abovementioned levels were heard for the same origin, they were not confirmed by the majority of the participants at the time of press.
The overall range for export PET bottle prices from China was last reported at $1030-1150/ton FOB, cash.
Buyers are sidelined to see fresh decreases as they assume that the bearish trend will remain in place next month, pointing to the lower crude oil prices. A player admitted, “Players are holding their purchases as they expect prices to hit the $1000/ton threshold.”
In the import market, the overall ranges for Chinese PET stood at $1080-1125/ton CIF Turkey, subject to 6.5% customs and 6.4% additional duty, cash, down by a weekly $30/ton on the low end. Although PET offers below the abovementioned levels were heard for the same origin, they were not confirmed by the majority of the participants at the time of press.
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