21 June 2011 22:47 [Source: ICIS news]
HOUSTON (ICIS)--The polyethylene terephthalate (PET) market in ?xml:namespace>
PET demand for bottles-grade material remained slow in South America because of moderate soft-drink consumption during the ongoing off season, but demand was strong in North America, including Mexico, driven by hot summer temperatures, sources said.
In North America,
BP intended to raise allocation from 25% to 50% this week, and hoped to have 100% allocation in place by the end of this week.
The PTA allocation will be removed once BP is certain that all plants are fully operational and able to supply the necessary quantities of PTA to PET manufacturers.
BP’s declaration of force majeure on PTA compelled two US PET producers to declare force majeure on PET supply.
For more on PET visit ICIS chemical intelligence
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections