19 October 2010 09:13 [Source: ICIS news]
“All seven bottle chip lines are currently running, but only at 80% of their nameplate capacities,” said the source.
“The [PET] spot market outlook is very uncertain now with producers being forced to hike offers on skyrocketing raw material prices, while buyers [were] putting up fierce resistance, adopting a wait-and-see position,” he said in Mandarin.
Values of feedstocks purified terephthalic acid (PTA) and monoethylene glycol (MEG) had been rising over the past three weeks.
Based on ICIS data, PTA was assessed at $1,035-1,065/tonne CFR (cost and freight) CMP (China Main Port) on 15 October, up about $132-145/tonne from three weeks ago, while MEG increased $155-165/tonne to around $960-975/tonne CFR CMP over the same period.
Meanwhile, PET bottle grade chips were at $1,330-1,350/tonne (€944-959/tonne) FOB (free on board)
Other major PET producers in
($1 = €0.71)
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