Taiwanese producer lifts export PET prices to SEA
Accordingly, the producer’s export offers are up by $10-20/ton to reach $890-900/ton on an FOB Taiwan, cash basis.
The producer source commented, “Demand in the Southeast Asian market is not well since players prefer to source local materials rather than imports. Furthermore, competitive offers from Korea and India also influence our sales activities. We heard that Europe might impose ADD on Korean origin PET. In case of implementation, this will make Korean suppliers divert more cargoes to the Asian region. For China, demand in the country is not bad, it just slowed down in line with the winter season while no supply issues are reported. We expect stable to firmer prices in December due to the preparation of Chinese New Year. We are currently running our plant at full rates.”
The producer’s import offers to the region currently stand at $895-905/ton on CIF SEA, cash basis, up by $10-15/ton from early November levels.
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