NWE PET price expectations turn bearish on lower feedstock costs

摘要

London -Northwest European polyethylene terephthalate prices are expected to fall in January on lower contract prices for paraxylene and monoethylene glycol, two key feedstocks for PET. The PET market is yet to pick up from the holiday season, but sources expect prices to fall through January on lower PX and MEG contract prices. This is in spite of expected restocking which will support demand this month. The NWE January PX and MEG contract prices have not settled yet. Sources expect a decline in both contract prices.