Asian R-PET trade to remain subdued until Lunar New Year

摘要

SINGAPORE (ICIS)--China's lifting of its zero-COVID 19 policy toward end-2022 bolstered the overall mood in Asia's recycled polyethylene terephthalate (R-PET) market, but the upcoming Lunar New Year kept Chinese buying appetite very weak. 1. Upcoming holiday weighs on demand rebound from China 2. Vietnam buying slumps ahead of Lunar New Year 3. Cheaper PET prices to continue to attract most buyers. Asian R-PET producers were hopeful of a more active participation in spot R-PET trading by Chinese downstream converters after the announcement.