News Code :
42991
Polyethylene Terephthalate weekly highlights
Petrotahlil :
PET prices plunge on cost pressure in SEA
• Import PET falls further by $10-55 on week
• Spot PX moves back down after short recovery
• Spot PTA posts additional weekly decrease of $20
• Sharp decreases in oil add to bearishness in market
• Local PET markets also follow imports lower
• PET demand slightly improves after 7-weeks of losses
• Import PET ($/ton): 935-1070 CIF
PET prices see renewed drops in China as upstream costs retreat
• Export PET from China down further by $45-50
• Oil plunges to lowest level in more than 3 months
• Spot PTA declines $20 on week
• PX fails to maintain its rebound
• Korean producer cuts PET offers further by $20
• Export PET ($/ton): 925-960 FOB China
Wait and see mood prevails among PET players in Europe
• PX agreed at a split settlement for May
• PET players are on a waiting stance for June
• Sell and buy ideas are mostly stable
• Demand may improve in the weeks ahead
• Import offers are not attractive
• Local PET (€/ton): 1020-1080
Will Italy’s PET market see a reversal of the trend in June?
• Late May deals further down by €10-20 on the week
• May PX closed at a split settlement
• Players expect rise in consumption on warmer weather
• June sell ideas emerge at a rollover
• PET prices may increase in the weeks ahead
• Local PET (€/ton): 1020-1080
Egypt’s PET markets continue on downward spiral
• Import PET offers at lowest in 23-months
• Distribution market levels down by EGP1,400-1,500
• EIPET cut offers by $50-100
• Price cuts fail to revive demand
• Holiday mood dominates the market
• Import PET ($/ton): 970-1035 CIF
PET players at odds about further decreases in Turkey
• Prices at or above $1000 CIF mostly fade
• April PET bottle imports soar by 230% m-o-m
• Buy ideas for local PET stand at $1150
• Signs of stabilization in China closely tracked
• Local PET ($/ton): $1170-1200 not inc VAT
• Import PET ($/ton): China 950-985 CIF
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