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PET prices continue to see modest gains in China

by ChemOrbis Editorial Team -
  • 04/07/2017 (09:14)
Local and export PET prices in China continued to post increases so far this week after turning firm in the middle of last week. Players attributed the current trend to the recent gains in crude oil prices as well as firm MEG prices.

An agent reported that the export offers of their Chinese supplier increased only marginally by $5/ton on both ends from two weeks ago to $915-935/ton FOB China, cash basis.

A Chinese producer’s PET offers to the local market also increased by CNY50/ton ($7/ton) from last week to CNY7350/ton ($924/ton without VAT) on an ex-warehouse China, cash including VAT basis ($924/ton without VAT). “Demand is not showing any signs of improvement and purchases remain limited to buyers’ needs. We are not holding positive expectations regarding the near term market outlook in the face of the start-ups of new capacities in China, where overcapacity issues for PET already exist.”
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