Southeast Asia’s PET market hits almost 3-month high
A few traders and converters in Indonesia reported that they purchased some Chinese PET bottle last week with increases of around $30/ton from a week earlier, saying, “Despite the recent hikes, we continue to buy from China since our local market is not competitive at all.”
In Vietnam, a trader also received $20-25/ton higher offers for Chinese and Indonesian PET. “Chinese exporters applied further hikes on their offers due to higher upstream costs as well as their limited supplies. Sellers are feeling free from any sales pressure amidst healthy demand,” he commented.
A Shanghai-based trader commented, “Our offers are firmer due to high MEG and PTA prices in Asia. Demand remains good, particularly from South America. We think that the support from high costs has already overshadowed other factors including new capacities.”
Meanwhile, a few regional traders noted that demand towards Thai PET has improved recently since the US Department of Commerce announced the preliminary decision regarding the antidumping duty investigations on PET imports from China, India, Korea, and Taiwan.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- PE and PVC imports from US flooding Europe
- Indonesia’s polyolefin markets sustain uptrend
- Asian PVC markets shaken by sharp fall in Taiwanese major’s Apr pricing
- March PE prices take split paths in Africa, Mid-East
- Asian PS markets touch 4-month high amid volatile styrene
- Turkey’s PP market attracts deep-sea origins at 4-month high
- European ABS rebounds from 3-year low
- Firming persists in Vietnam’s PE market, shrugging off ethylene
- European styrene continues to climb up, Asia remains cautiously firm
- PP market up from a year-low in Europe; yet hikes beyond C3 see resistance