US PET prices anticipated to drop in May on lower feestock costs

03 May 2012 23:11  [Source: ICIS news]

MIAMI, Florida (ICIS)--US polyethylene terephthalate (PET) prices are projected to drop 1-2 cents/lb ($22-44/tonne, €17-33/tonne) in May, inline with lower feedstock prices and soft demand, sources said on Thursday.

According to a trader, prices will likely be lower by 1.00-1.50 cents/lb, while a buyer anticipates a 2-cent/lb drop from April prices.

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

PET producers in the US include DAK Americas, Indorama, Mossi & Ghisolfi (M&G) and Nan Ya Plastics.

($1 = €0.76)

By: Blanca Venegas
713-525-2653

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