Gained Support From Monomer Cost, China PET Prices Adjusted Amid Traditional Low Season
- Local and export PET offers captured on an uptrend
- Demand is slightly improving
- PET price would fluctuate within a limited range in the near term
Gained support from monomer cost, China PET prices were adjusted up amid the traditional low season. In the local market, the offers for local PET Bottle increased between CNY100-250/ton ($14-36/ton) compared to last week in line with the increases in MEG cost. Sources revealed to SSESSMENTS.COM that the done deals achieved were limited. Similarly, export PET Bottle offers from several producers also hiked up between $10-20/ton from last week’s level following the market dynamics in the country.
According to market sources report to SSESSMENTS.COM, the overall demand for PET resins in the country remains slow despite a slight improvement observed. Sources stated that the demand for PET resins in the China market is traditionally slow during this particular time of the year as the finished product sales will be declining due to cold weather. In terms of supply, there is no issue reported in the country.
For the outlook, most market players contacted by SSESSMENTS.COM commented that demand for PET resins would remain slow due to cold weather and the upcoming Chinese New Year holiday. In terms of prices, some players predict it would fluctuate within a limited range depending on the crude oil prices and political issues.
Tags: Asia Pacific,China,English,EN PET CHINA WSS,Northeast Asia,Polyethylene Terephthalate (PET),WeeklySSESSMENTS China PET prices,PET pricesPublished on December 13, 2019 10:36 PM (GMT+8)
Last Updated on January 14, 2020 7:43 AM (GMT+8)