News Code : 43157

Petrotahlil :

China PET market halts 3-week uptrend. 
• PET prices reverse earlier gains 
• Export price falls around 3% on week 
• Spot PTA prices retreat 4% 
• Korean producer cuts export PET by $10
• Export ($/ton): China 980-1020 FOB | S. Korea 1020-1030 FOB

 

PET prices erase gains on lower costs in SEA. 
• Offers for Chinese PET down $25-30 
• Korean PET prices cut by $10 
• Buyers sidelined after price corrections 
• Spot PTA, MEG prices retreat $20-30
• Import PET ($/ton): 990-1040 CIF

 

PET buyers: end-product demand sees some relief in Italy. 
• July deals closed with rollovers 
• Fewer offers available toward low ends 
• PX contract is awaited 
• Supply is still ample, demand improved
• Local PET (€/ton): 950-1010

 

PET deals closed stable despite ample supplies in Europe. 
• PET market is stable w-o-w 
• PX contract awaited mostly stable 
• Demand is better than last month 
• Import offers are lower on week, still unattractive
• Local PET (€/ton): 950-1010

 

Import PET erases some of earlier gains in Turkey. 
• Chinese PET at $1050 CIF fail to work 
• Low ends in the local market faded 
• Sellers are not willing to concede to discounts 
• Near-term outlook is mostly stable 
• Upstream costs, Asian PET markets are key factors to watch
• Local PET ($/ton): $1180-1200 not inc VAT 
• Import PET ($/ton): China 1020-1030 CIF

 

Steady uptrend loses steam in Egypt’s import PET market
• Import offers down $30 at high end of range 
• EIPET slash offers by $20-30 
• Distribution market levels down by EGP200 
• Volatility keeps players at bay
• PET ($/ton): 1000-1070

 

END 

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