Southeast Asia’s import PET market hits 4 month-high
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.”
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Firming in ethylene lags behind propylene in Europe
- PET rally stalls in China after prices hit four-and-half-year high
- Asian PS retains firming path on supportive upstream
- June PE outlook under discussion in Europe
- Taiwanese major lowers June PVC offers to Asia despite firm China
- Local PP markets cautiously firmer in Vietnam, Indonesia
- Global ethylene prices continue to defy energy rally
- China’s import polyolefin markets up on soaring crude, futures
- Step-back from initial rollover attempts for ABS in Europe
- Mixed expectations in Asian PVC markets ahead of Taiwanese major’s June pricing