Polyethylene Terephthalate Asia

摘要

Asian PET prices rose $10-$20/mt week on week to $1,070/ mt FOB Northeast Asia and $1,080/mt FOB Southeast Asia Wednesday as supply in the region tightened. Producers in Taiwan and South Korea were heard to have cut operating rates for June by 10% to 90% of capacity due to the seasonal lull and the leadup to Ramadan, which has depressed buying interest for H2 June and H1 July cargoes. Several Chinese PET producers had earlier reduced operating rates for June to 75-85% of capacity. “PET producers have been suffering from negative margins due to firm feedstock PTA and MEG prices, which, although [they] have come off this week, are still high at around $935/mt CFR China for MEG and around $720/mt CFR China for PTA,” a Taiwanese producer said.