S. Korean producer sells PET with hikes to Europe
by ChemOrbis Editorial Team - content@chemorbis.com
A source from a South Korean producer reported that they concluded some PET deals with an increase of $20/ton from their latest offer level to export markets.
“Despite the approaching winter season, we are not aggressive in the European market since we believe that PET and PX prices will continue to firm up in line with higher crude oil futures. Hence, we are mostly limiting our sales volumes and standing firm on our offer levels. We already sold out our December allocation,” commented the source.
The producer’s recent done deal level stands at $1090/ton FOB Busan, cash.
“Despite the approaching winter season, we are not aggressive in the European market since we believe that PET and PX prices will continue to firm up in line with higher crude oil futures. Hence, we are mostly limiting our sales volumes and standing firm on our offer levels. We already sold out our December allocation,” commented the source.
The producer’s recent done deal level stands at $1090/ton FOB Busan, cash.
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