Europe PET buyers shocked by highest prices since 2013 – Those who are in the market to buy additional polyethylene terephthalate (PET) volumes in Europe are presented with offers far above what they had anticipated – Europe PET polyethylene terephthalate

Europe PET polyethylene terephthalate Europe PET polyethylene terephthalate  Europe PET polyethylene terephthalate  Europe PET polyethylene terephthalate  Europe PET polyethylene terephthalate  Europe PET polyethylene terephthalate  Europe PET polyethylene terephthalate  Europe PET polyethylene terephthalate  

Europe PET buyers shocked by highest prices since 2013

Source:ICIS News

Europe PET polyethylene terephthalate

LONDON (ICIS)–Those who are in the market to buy additional polyethylene terephthalate (PET) volumes in Europe are presented with offers far above what they had anticipated, sources said on Friday.

“I received updated offers. Then, I really was absolutely shocked,” a buyer said.

Prices have jumped up at a surprising rate, to the point where the €1,200/tonne FD (free delivered) Europe barrier has been broken for the first time since 2013.

Europe PET polyethylene terephthalate

Until recently, demand was disappointing, so now there are plenty of buyers scrambling for what is considered to be expensive material.

With so much under contract, and buyers offtake maximum where possible, additional spot volume is scarce.

“If you need it, you should forget about the price,” a second buyer said.

The Asian market is hot right now, so buyers cannot even access bargain imports.

They are reliant on a limited number of suppliers.

Europe PET polyethylene terephthalate

“There are no alternatives. People have to buy now. Anything above contract volume will need to buy at a spot price, which is now €1,200/tonne for May and June,” a supplier said.

The force majeure on upstream purified terephthalic acid (PTA) is compounding the problem.

PET is used in fibres for clothing, containers and bottles for liquids and foods, thermoforming for manufacturing, and in combination with glass fibre for engineering resins.

Picture source: imageBROKER/REX/Shutterstock

By Caroline Murray

Related Topics

-US Slaps Preliminary Duties Determinations on PET Resin From Five Countries – US Secretary of Commerce Wilbur Ross has announced the affirmative preliminary determinations in the antidumping duty (AD) investigations of imports of polyethylene terephthalate (PET) resin from Brazil, Indonesia, South Korea, Pakistan, and Taiwan – USA Duties PET Resin

-PET Imports To Face Anti-Dumping Duties in the U.S – The imposition of duty is further to trade investigations following petitions filed in September last year by domestic PET manufacturers – PET Imports AntiDumping Duties USA

-Octals pet resin gives opportunity for export to Canada – Raising the profile of Omani exports worldwide and boosting bilateral trade opportunities between Oman and Canada, Octal one of the sultanate’s principal exporters – Octals pet resin export Canada

-Americas petrochemicals outlook: w/c Apr 16 – Spot ethylene has been on the rise, 0.50 cent/lb higher than the record lows seen April 9 after prompt-month was heard offered at 14 cents/lb MtB Nova – Americas petrochemicals outlook

-Motiva considers ethylene, aromatics projects in US – Motiva Enterprises signed $8bn-10bn worth of memoranda of understanding (MoUs) covering process technologies for possible ethylene and aromatics units in the US – Motiva ethylene aromatics projects USA

-US spot ethylene falls to 16-year low amid tariff concerns – US spot ethylene traded at a 16-year low on Friday amid long supply and concerns about proposed Chinese tariffs on chemicals – USA spot ethylene chemicals

-The initial price for MEG in Europe for April deliveries fell by EUR20 per tonne – The initial contract price of monoethylene glycol (MEG) in Europe for April deliveries was agreed at the level of EUR965 per tonne, which is EUR20 per ton lower than the March contract prices – Price MEG Europe April

-China’s MEG up in anticipations of better supply-demand for Q2 – China’s MEG market has remained rangebound for around two weeks, and domestic spot prices shivered around 7,000yuan/mt – China MEG prices market

-Prices MEG in the US may fall in April  – It is expected that prices of monoethylene glycol (MEG) in the US will decline in April due to a weakening of demand between peak seasons – Prices MEG USA April 

-AFPM ’18: EQUATE’s US MEG plant begins construction phase – CEO – AFPM 2018 EQUATE USA MEG

-Sabic reduced the April price of MEG by USD55 per tonne – Sabic, the largest Saudi petrochemical company, has lowered the contract price of monoethylene glycol (MEG) to supply material to the Asian market in April at USD55 per tonne compared to the March price level – Sabic April price MEG

-MEGlobal lowered the April contract price of MEG in Asia by USD80 per tonne – MEGlobal, the world leader in the production of monoethylene glycol (MEG) and diethylene glycol (DG), set the April contract price for MEG for Asia at USD1,100 per tonne – MEGlobal April contract price MEG Asia4

-China polyester to drive MEG, but oversupply fears – China polyester MEG oversupply – Robust demand from polyester production in China is expected to drive the Asian monoethylene glycol (MEG) market in the first half of 2018

Please follow and like us: