19 September 2008 23:59 [Source: ICIS news]
LONDON (ICIS news)--European polyethylene terephthalate (PET) contracts fell an average of €50/tonne ($71/tonne) in September on the back of softer upstream costs and slow demand, said market sources on Friday. ?xml:namespace>
A variety of decreases were concluded, mostly between €40-60/tonne, as sellers tried to keep demand flowing despite limited end-user buying interest.
Bottle and film grade prices were pegged between €1,495-1,620/tonne FD (free delivered) W Europe (west ?xml:namespace>
Some pick-up in demand was reported as customers filled stocks but there was little change in end-user demand, especially for bottle grade.
Operating rates were reduced as a result, commonly quoted around 60% across
Net spot levels were quoted well below this, closer to €1,100/tonne FD Europe.
In August, PET prices fell on average of €40-50/tonne.
($1 = €0.70)
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