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South Korean producer cuts export PET prices

by ChemOrbis Editorial Team - content@chemorbis.com
  • 10/05/2017 (12:22)
A source from a South Korean PET producer reported that they implemented decreases on their export offers this week mainly due to weak demand after keeping them stable last week.

When compared to last week, the producer declined its prices by $10/ton to $980/ton FOB South Korea, cash.

The source opined, “Although buyers make inquiries frequently when prices are on a downturn, demand from Europe is not doing well.”

Some players argued that sellers in the PET market have not been able to keep their prices stable when oil futures have been trading below $50/bbl both on NYMEX and Brent.
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