Local PET prices move lower in Thailand
“Despite fresh declines in local prices, buyers are still sourcing on an as-needed basis as they think that prices still have some room to decline. We are also expecting further declines in prices due to sufficient supply levels and we believe that local prices should fall to around THB30000-THB31000/ton ($833-861/ton). Demand for our end products has slightly improved due to the upcoming Christmas and New Year holidays; however, compared to last year, demand is still weak. We hope that demand will hold steady until February due to Chinese New Year preparations,” reported the buyer.
A distributor also said, “Trading activities in the local market are very quite due to the upcoming Christmas holidays. We managed to sell some material this week but in small volumes. Buyers are expecting to see further declines in prices in January, so they are refraining from buying beyond their needs. Currently, buyers are taking a wait and see stance while giving bids at THB30000 ($833/ton).”
Domestic PET prices in Thailand are currently being quoted at THB31250-31500/ton ($865-872/ton) FD Thailand, cash equivalent basis.
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