News Code : 42883

Petrotahlil :
Import PET prices sink to 4-month low in Turkey
• Depreciation of TRY/USD curtails activity 
• Local PET sold below $1250 threshold 
• Import offers down $10-20/ton further on week 
• Upcoming rerun of elections causes cautiousness 
• Spot PX hits one-and-a-half year low on FOB Korea
• Local PET ($/ton): Deals $1220 not inc VAT 
• Import PET ($/ton): China 1090-1130 CIF
 
 
Import PET drifts lower in SEA on scant demand
• Import PET retreats further by $5-20 on week 
• Demand remains limited to buyers’ needs 
• Sentiment pressured by renewed trade war 
• Spot PX hovers around multi-year lows in Asia 
• Spot MEG posts a slight weekly decline
• Import PET ($/ton): 1070-1160 CIF
 
 
PET downtrend continues in China
• Export PET down $10/ton on week 
• Local prices also retreat CNY200 
• Demand remains thin despite season 
• Asian PX hovers around lowest levels since Dec 2017 
• Korean producer cuts export PET further
• Export PET ($/ton): 1070-1080 FOB China
 
 
PET market retreats further in Europe
• Sentiment is weak due to high inventories 
• Weather conditions do not support the market 
• Sellers concede to small discounts 
• Import PET offers from Asia down
• Local PET (€/ton): 1060-1120 FD
 
 
Italy’s PET market stands at 5 month-low
• PET market remains bearish 
• PET prices stand at 5 month-low 
• Demand, lower feedstocks weigh on the market 
• Sellers hope for improved weather conditions
• Local PET (€/ton): 1060-1120 FD
 
 
Egypt’s import and local PET markets remain in retreat
• Import PET offers down by $15 
• Distribution market levels down by EGP100-200 
• EIPET offers steady for fourth straight week 
• Long supply, weak demand pressuring markets
• Import PET ($/ton): 1100-1160 CIF

 

END

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