US polyethylene terephthalate PET contract prices
US polyethylene terephthalate PET
Polyethylene Terephthalate (PET) in the US in November fell by USD66 per ton
MOSCOW – The contract prices of polyethylene terephthalate (PET) in the US in November fell by 3 cents per pound (USD66 per ton) amid weakening demand and cooling, ICIS reports.
At the same time, some participants have already concluded 3-month contracts with a decrease of 3 cents per pound. Spot prices also declined. US polyethylene terephthalate PET
Spot and contract resin prices followed a downtrend amid economic uncertainty caused by the protracted trade war between the US and China.
Most contracts fell 3 cents a pound, while spot prices fell 2–3 cents a pound, with deals at 47 cents a pound (USD 1,034 a ton), CFR US West Coast and 50 cents a pound ( USD1 100 per tonne) DEL for imported material.US polyethylene terephthalate PET
The global economic downturn caused by the trade conflict between the US and China has become the main reason for the sharp decline in PET prices in the US and Asia, especially in China.
According to the ICIS-MRC Price Review , the cost of PET granulate in China will continue to put downward pressure on Russian granulate prices by the end of the year.
Prices in the region have already reached levels that are only USD30-50 per tonne higher than the minimum prices for the previous 10 years. Against this background, a further decrease in the cost of Russian granulate for contract customers in December by about 3,000 rubles is expected. per ton.US polyethylene terephthalate PET
DAK Americas, Indorama, Nan Ya Plastics Corporation, and Far Eastern New Century (FENC) are US PET manufacturers.
Author: Anna Larionova