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Players: domestic PET gains competitiveness on weaker ringgit in Malaysia

by ChemOrbis Editorial Team -
  • 31/07/2015 (17:57)
According to players in Malaysia, domestic PET cargoes are becoming more competitive relative to imports owing to the weakening ringgit. A source from a domestic producer, whose offers stand at MYR4000/ton ($1047/ton) FD, stated, “There are competitive offers for Chinese cargoes in the market, but most buyers prefer to source locally given the strong dollar as well as anti-dumping duties on Chinese PET.”

A source from a second domestic producer, whose prices stand at MYR4200/ton ($1100/ton) FD, cash, commented, “We are seeing greater interest from buyers towards domestic material these days given the depreciation of the ringgit against the dollar.”

In Malaysia, domestic PET prices stand at MYR4000-4200/ton ($1047-1100/ton) FD, cash equivalent basis while import offers for Chinese goods were reported at $950-960/ton CIF, cash.
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