Import PET prices edge down in Turkey
“We slightly lowered our import offers. Meanwhile, there were no Middle Eastern or Pakistani prices heard this week,” said a trader. Weaker crude oil markets pushed Asian PET markets down despite the upcoming high season, which caused players to question the direction of the market for the near term. “The local market remains firm so far, but lower import prices may exert pressure on domestic materials so long as upstream costs remain soft,” a few buyers argued.
In upstream news, spot PTA prices softened $10/ton on the week but held stable from early March on a CFR China basis. Some market sources comment that ample PTA supplies may exert pressure on prices for this product. MEG costs with the same terms gained $10/ton on the week but remained $30/ton below early month levels. Meanwhile, spot PX prices were down $25/ton week over week and $60/ton from the beginning of March on an FOB South Korea basis.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Supply constraints spark stronger PE trend than PP in global markets
- ABS, PS uptrend falters in China after H1 2020 ends at multi-month highs
- Stats: China’s total PP imports spike in May; Vietnam and India’s rising shares shine out
- Tight supply drives HDPE, LLDPE gains in Southeast Asia
- European PE markets set for 2nd bullish month on rising costs
- Turkey’s PP and PE markets propelled to a firm start to H2 despite vulnerable conditions
- Asian PVC sees V-shaped recovery in Q2, what will Q3 bring?
- Will capacity additions cast cloud on ethylene upsurge in Asia?
- US PVC offers in Egypt rise steadily but resistance grows in tandem
- PE buyers’ resistance grows in SEA; duty-free origins more competitive than Mid-East