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South Korean producer cuts export PET prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/07/2015 (18:14)
A source from a South Korean producer reported that they lowered their export PET prices by $50/ton from last week in the face of persistently slow demand as well as stiff competition from Chinese cargoes.

The producer’s new offers stand at $1000-1010/ton on an FOB South Korea, cash basis. The source stated, “Despite our price reduction, we are still struggling to conclude deals as Chinese cargoes are offered at very competitive levels. Prices may still have room to decrease next week as plunging costs are putting pressure on the market.”
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