25 January 2011 23:17 [Source: ICIS news]
HOUSTON (ICIS)--A polyethylene terephthalate (PET) producer in ?xml:namespace>
PET prices in
The 2 cent/lb boost was applied to the few processors who decided to buy resin in the second half of January, but several held off on purchases, participants said.
Therefore, the February price increase would be 7 cents/lb for processors who bought resin at that time, according to a resin supplier. Those who did not buy in late January would pay the full 9 cents/lb in February.
Global pressure from high-priced feedstocks drove the initiatives in
In Asia, JX Nippon Oil and Energy proposed a February PX Asian Contract Price (ACP) of $1,670/tonne CFR (cost and freight)
The December ACP was $1,275/tonne CFR Asia.
Asian spot PX prices also continued on a firm uptrend, and were assessed at $1,620-1,630/tonne CFR Taiwan/China Main Port (CMP) on 21 January, up from $1,585-1,595/tonne CFR Taiwan/CMP on 14 January.
PET producers in
($1 = €0.73)
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