01 March 2012 23:24 [Source: ICIS news]
HOUSTON (ICIS)--February polyethylene terephthalate (PET) contracts moved up by 4-5 cents/lb from January, following higher feedstock prices, market participants said on Thursday.
February prices under the new assessment rose to 84-89 cents/lb ($1,852–1,962/tonne, €1,389-1,472) ?xml:namespace>
Some players said the increase from January to February had been closer to 4.5-5 cents/lb. However, this was unconfirmed.
According to a trader, prices are projected to increase by 3 cents/lb in March, alongside higher feedstock prices.
PX is a feedstock for purified terephthalic acid (PTA), which in turn is the principal feedstock for PET.
PET producers in the
($1 = €0.75)
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