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S Korean PET faces further discounts on competition from China

by ChemOrbis Editorial Team - content@chemorbis.com
  • 03/11/2017 (15:45)
A source from a South Korean producer reported that they implemented an additional discount of $10-15/ton on their export PET bottle offers this week since they receive weaker demand from their main export destination, Europe.

The producer’s PET offers currently stand at $1060-1065/ton on FOB Busan, cash basis.

Meanwhile, the overall range for export PET bottle prices from China is currently quoted at $1000-1020/ton FOB, cash. Players in Europe have started to show more interest in Chinese cargoes recently due to their competitive prices.

The European Union terminated the 13-year-long anti-dumping measures on China’s PET products in February this year. However, Chinese materials are still subject to customs duty in the Union while South Korean PET is exempted from any duties.
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