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Local PET prices firm up in China

by ChemOrbis Editorial Team -
  • 23/05/2017 (15:34)
In China, local PET prices posted increases for the second consecutive week due to firmer MEG prices. Local prices had been tracking a softening trend since mid-February before they rebounded last week.

In Asia, CFR China based spot MEG prices have increased by more than $75/ton since the start of May to be currently reported at around $770-775/ton.

A domestic producer increased its local offers by CNY250/ton ($36/ton) from last week to CNY7100/ton ex-warehouse China, cash including VAT basis ($881/ton without VAT). “MEG prices have been increasing lately and pushing PET prices higher,” a source from the producer commented.
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