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Local PET prices drop further on lower PTA costs in China

by ChemOrbis Editorial Team -
  • 10/12/2014 (10:46)
A trader based in Shanghai reported that local PET prices in China have posted further decreases in line with lower spot PTA costs. Spot PTA prices declined $45/ton week over week to be currently quoted at around $680-685/ton CFR China.

The trader stated that local PET prices have softened to CNY7500-7600/ton ex-warehouse China, cash including VAT ($1045-1059/ton without VAT). This range indicates a drop of around CNY100/ton ($16/ton) when compared to the start of the week. The trader commented, “Spot PTA prices are decreasing despite lower operation rates. Hence, we expect to see lower prices for local PET cargoes in the days ahead.”
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