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Spot PET bottle breaches €900 threshold in Europe

by ChemOrbis Editorial Team -
  • 15/01/2021 (15:10)
In Europe, PET offers were initially revealed with increases of €70/ton following a €100/ton hike in January MEG settlement. Prices are hitting new highs swiftly as suppliers issue renewed increases due to tight supplies and robust demand. Accordingly, most recent offers hit above the €900/ton level on the high end.

Sellers have noticed an increase in buying appetite as buyers try to secure some volumes in fears of the continuity of supply disruptions due to the container shortage and long-transit times. Nevertheless, they buy on a hand to mouth basis due to the lack of availability and their lower requirements amid the low season.

Buyers also confirmed that prices reached above €900/ton FD threshold. A mineral water bottle producer secured some material at around €920-930/ton FD Italy, 60 days. The buyer added, “Import offers are absent for the moment. Buyers are securing their urgent needs as price rose swiftly.”

Spot PET bottle offers are currently reported at €840-920/ton FD Italy and at €830-900/ton FD Northwest Europe.
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