Local PET prices drop further on lower PTA costs in 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.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- US PE prices move down on weak appetite from export markets
- Further price cuts in Vietnam’s PP market fail to revive demand
- Asian PS, ABS markets remain weak on rising trade tensions
- Spot styrene sharply down in Europe and Asia
- Expectations soften for PP raffia, fibre yet to follow in Turkey
- Will PE supplies from China flock to SEA?
- LDPE, LLDPE highest since Q3 2018; HDPE at 6-month high in Europe
- Intensifying trade war adds to bearishness in China’s local PP, PE markets
- PET prices hit multi-month lows in Asia and Europe
- Rising momentum fizzles out in European PS, ABS markets