US PET down 1 cent/lb in May on feedstock decreases

24 May 2012 23:10  [Source: ICIS news]

MIAMI, Florida (ICIS)--US polyethylene terephthalate (PET) prices for May moved down by 1 cent/lb ($22/tonne, €18/tonne), following weaker feedstock costs and soft demand, market participants said on Thursday.

May PET domestic prices were assessed at 83-88 cents/lb DEL (delivered), compared with 84-89 cents/lb in April.

Upstream, the US paraxylene (PX) May contract settled at 76.50 cents/lb, down by 2.00 cents/lb from April, following a lower May 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 = €0.80)

By: Blanca Venegas

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