Players: local PET supply tightening in Thailand
Players reported that Thailand’s Indorama has shut their 178,000 tons/year PET plant for maintenance while another producer, Shinkong, also shut their 167,300 tons/year PET plant.
A trader based in Bangkok stated, “We expect local PET supplies to tighten in the near term in line with these shutdowns. Market sentiment is not bad nowadays. However, we think that PET prices may continue to decrease over the short term in the face of weaker upstream costs.”
In Thailand, local PET prices are currently reported at THB39000-39500/ton ($1188-1203/ton) FD Thailand, cash equivalent basis.
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