Polyethylene Terephthalate : Europe

摘要

PET producers were yet to receive a clear view of production costs in April as the feedstock monoethylene glycol contract was yet to be settled. As spot MEG prices declined further and buyers took aggressive positions in the contract negotiations, sources said it was likely contract prices would see a "significant decrease" from March. Meanwhile, market sources said the initial Northwest European paraxylene contract for April was widely followed by the market at Eur1,225/mt FD NWE and was considered fully settled. The Eur43/mt decrease on PX CP, and the anticipated decrease of Eur40-50/mt on MEG, would allow PET producers to pass down around Eur40/mt, one PET producer said, agreeing that the Eur1,320/mt would be at the lower end of the range.