Polyethylene Terephthalate: Asia

摘要

Asian polyethylene terephthalate prices continued to travel south this week for the third week in a row, with the FOB Northeast Asia market falling $30/mt week on week to be assessed at $1,529/mt, and the FOB Southeast Asia marker falling $20/mt from the previous week to $1,559/mt. PET producers continued to slash their offer prices this week. Offers on a FOB China basis were placed at $1,530-1,540/mt Wednesday, down from $1,560/mt in the previous week, while offers on an FOB SEA basis were reported at $1,560/mt, down from $1,580/mt last Wednesday. Despite the lower offers, market participants said the Asian PET market is seen to have hit bottom, pointing to rebounds in upstream markets, notably paraxylene.