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Southeast Asia’s import PET market hits 4 month-high

by ChemOrbis Editorial Team -
  • 19/07/2017 (03:54)
Import PET prices in Southeast Asia have been following a stable to firmer trend for the past few weeks on the back of stronger upstream markets, volatile crude oil prices as well as higher offers from the nearby Chinese market.

In Asia, spot MEG prices are currently standing around $50/ton higher when compared to early July while PTA prices also posted a $40/ton increase within the same period.

Data from ChemOrbis Price Index shows that import PET prices on a weekly average basis have reached their highest levels since the second half of March, after posting increases for three consecutive weeks.

A source from a Chinese producer reported that their offers to the region increased by $30/ton from two weeks ago and attributed this to higher feedstock costs.

A buyer operating in the Vietnamese market noted, “We are planning to make some PET purchases nowadays since both MEG and PTA prices have raised a lot recently.”

A converter in Indonesia also commented, “We expect PET prices to sustain the current firming trend in the days ahead with the support of upstream and crude oil.”
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