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Malaysian producer lifts local PET prices

by ChemOrbis Editorial Team -
  • 10/04/2015 (16:57)
A source from a Malaysian producer reported that that they raised their local PET prices by MYR100-150/ton ($27-41/ton) following an explosion which occurred at Dragon Aromatics’ PX plant on April 6. The producer’s local PET bottle offers currently stand at MYR3800-3850/ton FD Malaysia, cash ($1047-1061/ton).

The source commented, “Local demand is thin as most buyers have already secured sufficient cargoes before the Malaysian government introduced the Goods and Services Tax (GST) at the start of April. However, we are still feeling bullish for the near term as upstream costs are higher due to the PX explosion.”
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