US March PET expected to rise 2-3 cents/lb on higher feedstock
13 March 2012 18:16 [Source: ICIS news]
HOUSTON (ICIS)--?xml:namespace>US polyethylene terephthalate (PET) prices are projected to rise by 2-3 cents/lb ($44-66/tonne, €33-50/tonne) in March, a buyer said on Tuesday.
The increase would bring PET prices to 87-92 cents/lb for March, following hikes in feedstock prices, market participants said.
February PET prices were at 84-89 cents/lb DEL (delivered), which represents an increase of 4-5 cents/lb from January, following input by industry sources.
Upstream, the US paraxylene (PX) March contract is projected to move up by 3 cents/lb from the February contract price of 79 cents/lb, following price increases in Asia, sources said.
PX is a feedstock for purified terephthalic acid (PTA), which in turn is the principal feedstock for PET.
PET producers in the US include DAK Americas, Indorama, Mossi & Ghisolfi (M&G) and Nan Ya Plastics.
($1 = €0.76)By: Blanca Venegas713-525-2653
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