01 February 2011 23:22 [Source: ICIS news]
HOUSTON (ICIS)--Polyethylene terephthalate (PET) prices in ?xml:namespace>
February PET prices will increase by at least $20/tonne (€15/tonne) over January, the amount depending on individual country market dynamics, participants said.
Sources noted concern over the impact of higher resin prices on demand during the current peak period in several countries in
With reduced global cotton availability, textile markets are pushing for increased production of the alternative polyester fibre, which in turn drives production away from bottle-grade polyester, or PET.
Contributing to upward pressure, feedstock paraxylene (PX) prices continue to rise.
The Asia Contract Price (ACP) for feedstock PX, a key industry indicator, has settled at $1,620/tonne for February, up $240/tonne from January, as a result of tight supply, market sources said.
Both Mitsubishi Chemical and Mitsui Chemical settled the benchmark contract price with their respective suppliers - ExxonMobil, Idemitsu Kosan and JX Nippon Oil and Energy - on a CFR (cost and freight)
January PET prices were assessed at $1,820-1,880/tonne
($1 = €0.73)
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