Nan Ya Plastics increases June prices of PET in the US - The Taiwanese company Nan Ya Plastics (part of the Formosa Group) announced an increase in June prices for all grades of polyethylene terephthalate (PET) for the US market by 5 cents per pound or USD110 per tonne - Nan Ya Plastics June prices PET USA • Polyestertime

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Nan Ya Plastics June prices PET USA Nan Ya Plastics June prices PET USA Nan Ya Plastics June prices PET USA Nan Ya Plastics June prices PET USA Nan Ya Plastics June prices PET USA Nan Ya Plastics June prices PET USA Nan Ya Plastics June prices PET USA Nan Ya Plastics June prices PET USA

Nan Ya Plastics increases June prices of PET in the US

Nan Ya Plastics June prices PET USA MOSCOW ( MRC ) – The Taiwanese company Nan Ya Plastics (part of the Formosa Group) announced an increase in June prices for all grades of polyethylene terephthalate (PET) for the US market by 5 cents per pound or USD110 per tonne, ICIS reported citing the received from the company letter.

According to the letter, the price increase will come into force on June 1 of this year.

The company explained this increase in prices by increased quotations for raw materials – terephthalic acid (TFA) and monoethylene glycol (MEG), as well as high logistics and production costs.

Buyers will decide on this price increase against the backdrop of limited supply of material on the market, which has been going on for several months, in addition, the market has now entered the peak demand season.

Earlier it was noted that Nan Ya Plastics last time raised the prices of PET in the US market from March 1 of this year to 2 cents per pound or USD44 per ton.

The main producers of PET in the US are Indorama, DAK, Nan Ya and Mossi & Ghisolfi.

According to the Price Review of ICIS-MRC , the tension in the Russian PET-granulate market continues to increase. It is expected that in June material prices will reach maximum levels and the shortage of free volumes will be further exacerbated. From the middle of July, a break in the current trend and the beginning of the process of returning the market to a balance situation.

Nan Ya Plastics is a subsidiary of the Taiwanese petrochemical giant Formosa Group. In addition to the BFA production plant, the company also operates four MEG production plants on the same production site in Mayliao.

mrcplast.ru

Author: Margarita Volkova

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