US PET rises 2 cents/lb in March on higher feedstock

28 March 2012 22:45  [Source: ICIS news]

HOUSTON (ICIS)--US polyethylene terephthalate (PET) prices rose by 2 cents/lb ($44/tonne, €33/tonne), following higher feedstock costs, market participants said on Wednesday.

March PET domestic prices were assessed by ICIS at 86-91 cents/lb DEL (delivered), higher compared with 84-89 cents/lb from February.

Upstream, the US March paraxylene (PX)  contract settled at 82 cents/lb, up by 3 cents/lb from February, following a higher March Asian Contract Price (ACP) for PX, 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 = €0.75)

By: Blanca Venegas

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