PET prices buck the downward trend in Asian plastic markets


Yesterday we reported that prices for most commodity resins have fallen steadily across Asia for the past four weeks, but one material is bucking the tend: polyethylene terephhalate. Spot PET prices in Asia have posted four consecutive weeks of rising prices, according to plastics pricing service ChemOrbis.

ChemOrbis says its sources attribute the steady rise in PET prices to firmer feedstock costs and the resultant margin pressure on PET suppliers. Healthy PET demand in China during the summer season, when more beverages are sold and consumed than in winter months, was cited as another factor aiding the recent firmness in PET prices, although sources added that buying interest for PET has weakened recently now that the summer season is coming to an end.

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