European PET prices continued to be guided by the costs of polymer feedstocks in January 2010, the newsletter Plastics Information Europe (PIE, Bad Homburg / Germany; www.pieweb.com) found in its latest report. Prices of the feedstock MEG rose by EUR 125/t to EUR 785/t, reflecting its increasingly tight supply situation. Spot market notations of the far more important PX feedstock, on the other hand, eased in January.
Some players expect the upward trend to continue, PIE said, while others fear another recessive slump (expressed in a W-shape economic scenario). In the long run, notations will continue to move in tandem with feedstock costs.