Local PET prices in China break below a new threshold
A bottle manufacturer reported receiving an offer from the local market at CNY6900/ton ex-warehouse, cash including VAT basis ($857/ton without VAT). “MEG and PTA futures are recording further decreases this week, keeping the PET market under downward pressure. We believe that demand may improve in May in line with the warmer weather in China,” the buyer commented.
A trader operating in Shanghai noted, “Softening upstream costs continue to drag local PET prices down and keeping buyers on the sidelines.”
In China, the overall range for local PET prices is currently quoted at CNY6900-7350/ton ex-warehouse, cash including VAT basis ($857-913/ton without VAT).
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