Polypropylene:Asia

摘要

Asian PET bottle chips continued to surge for the sixth week, with the benchmarks gaining $15 to settle at $1,185/mt FOB Northeast Asia and $1,200/mt FOB Southeast. The gap in offers between South Korean and Chinese producers — which was almost at $40/mt last week — has closed, with offers heard mostly at $1,200/mt FOB NEA. Chinese producers said they were playing “catch up” on feedstock prices. Purified terephthalic acid was up $12 since last Wednesday, closing at $910/mt CFR China for Taiwan origin cargoes. Monoethylene glycol was rangebound, gaining $1 on the week to close at $807/mt CFR China. On Wednesday, Saudi Basic Industries Corporation, or Sabic, nominated its Asia Contract Price for October at $900/mt CFR, up $20/mt from September.