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PET: MEG drives resins prices in February

Rather untypical for the off-season, notations for PET packaging resins rose in February for the fourth consecutive month on the back of moderate feedstock rises, the newsletter Plastics Information Europe (PIE, Bad Homburg / Germany; www.pieweb.com) says in its latest price report.

With paraxylene (PX) stabilising, monoethylene glycol (MEG) fuelled polymer movements. Asian imports were still slack, so that supply was largely in line with demand. Order activity was within the normal range. Potential market movements in March are not yet discernible, although rising MEG numbers are thought likely to signal a modest increase in polymer notations, PIE says.

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