News Code : 42665

China’s PET market supported by VAT cut
• PET bottle prices from China stable to up 
• Limited supplies keep Chinese PET firm 
• Bullish crude oil futures also support sentiment 
• Spot PTA, MEG edge lower by $5 on week 
• Korean PET down for first time after 6 weeks
• Export PET ($/ton): 1110-1140 FOB China
Slow demand, weak upstream weigh on Italian PET market
• Initial offers and deals are stable to softer 
• MEG, PX contracts are awaited 
• Spot PX prices are softer on weekly basis 
• Demand is still not vivid
• Local PET (€/ton): 1090-1150 FD
PET sellers track divergent pricing policies in SEA
• S. Korean producer cuts offers after 6 weeks 
• Chinese PET supported by limited supplies 
• Local PET prices in Thailand flat prior to Songkran 
• Spot MEG, PTA edge down by $5 on week 
• Brent oil climbs above $70/bbl threshold
• Import PET ($/ton): 1120-1140 CIF
Turkey’s PET market holds steady despite firmer costs
• Cautious demand overshadows seasonality 
• Parity concerns still in place 
• Crude oil futures hit 5-month high 
• Buyers foresee stability in the short term
• Local PET bottle ($/ton): 1375-1400 cash | 1475 60/90 days 
• Import PET ($/ton): China 1140-1160 CIF
PET sentiment fails to improve in Europe
• Players wait for monomer contracts to settle 
• April deals see stable or softer prices 
• Fundamentals are balanced 
• Improvement in demand is still awaited
• Local PET (€/ton): 1090-1150 FD
Sentiment firms up in Egypt’s PET market
• Import PET offers up by $10-20 
• Local market steady to EGP100 higher 
• Demand gradually improves, yet purchases kept to minimum 
• Question marks raised over the sustainability of the trend
• Import PET ($/ton): 1140-1190 CIF


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