News Code :
42515
PET PRICES
Petrotahlil:
PET firms up on rising costs, nearing high season in SEA
• PET markets start March on firm footing
• Import PET offers up $15-20 on week
• High season boosts regional demand
• Spot MEG up further by $15 on week
• Offers from S. Korea flat for 3rd week
• Import PET ($/ton): 1095-1170 CIF
Export PET offers above $1100 appear in China
• Export PET from China up $25-30
• MEG prices increase $15 on week
• High season, firm costs support sentiment
• China plans to reduce VAT for manufacturing sector
• Korean PET offers stable for 3rd week
• Export PET ($/ton): 1095-1120 FOB China
PET suppliers seek cost-driven hikes, demand still subdued in Europe
• PET sees hike requests of up to €30
• Initial March MEG is €15 higher
• Demand is still calm, no supply issues in the region
• Imports continue to arrive, covering buyers’ needs
• Local PET (€/ton): 1090-1170
Small increases start to pass on March PET in Italy
• Initial MEG contracts settled up by €15
• €10-20 hikes are passing on deals, requests are up to €30
• Sellers hope to receive support from awaited PX
• Demand is slightly below players’ expectations in H1 March
• Local PET (€/ton): 1090-1160
Egypt’s import PET market heads north on firm costs
• Import PET prices up by $5-10
• Hikes find support from higher costs
• Liquidity issues continue pressuring sales in local market
• Inquiries still limited despite approaching high season
• Import PET ($/ton): 1130-1175 CIF
Import PET prices pare losses in Turkey
• A domestic producer lifts offers after 5 weeks
• Local PET surged by $45-50 on sellers’ firm stance
• Players see further hikes on horizon
• Egypt’s EIPET resumed operations at its second PET line
• Local PET bottle ($/ton): 1375-1400 cash | 1475 60/90 days
• Import PET ($/ton): China 1140-1160 CIF
