US PET falls 2 cents/lb in April on lower feedstock

26 April 2012 20:39  [Source: ICIS news]

HOUSTON (ICIS)--US polyethylene terephthalate (PET) prices moved down by 2 cents/lb ($44/tonne, €33/tonne), following lower feedstock costs, sources said on Thursday.

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

Upstream, the US paraxylene (PX) April contract settled at 78.50 cents/lb, down by 3.50 cents/lb from March, following a lower April 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 = €0.76)

By: Blanca Venegas

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