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Jordanian PET trader complains of weak demand

by ChemOrbis Editorial Team -
  • 07/07/2015 (17:03)
A trader operating in Jordan’s PET market complained about weak demand while adding that offer levels are more or less steady this week. The trader received a Chinese PET offer at $1080-1090/ton on CIF Aqaba, cash basis.

“PET players are mostly relying on their previous stocks and they are mostly readying for the approaching Ramadan holiday. Overall demand remains slow and our business has been significantly influenced by the ongoing political tension in the region. Closed borders and irregular strikes at ports are amongst the other negative factors that are affecting our trade. On top of these, customs duties from Jordan to Iraq are subject to an increase and this is another factor that casts a shadow over our trade,” he said.

In a nearby market, Egypt, players had pegged Far Eastern PET offers at $1030-1085/ton on CIF Alexandria, cash basis last week. This week, Southeast Asian PET offers have been reported so far at $1035-1040/ton with the same terms.
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