US July PET falls 5 cents/lb on lower feedstock

02 August 2012 23:02  [Source: ICIS news]

MIAMI, Florida (ICIS)-- US polyethylene terephthalate (PET) July prices moved down by 5 cents/lb ($110/tonne, €90/tonne), following lower feedstock costs, market sources said on Thursday.

July PET domestic prices were assessed by ICIS at 73.00-78.00cents/lb DEL (delivered), lower compared with 78.00-83.00 cents/lb from June.

Upstream, the US paraxylene (PX) July contract settled at 62.85 cents/lb, down by 4.65 cents/lb from June, following lower Asia PX July prices, 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 = €0.82)

By: Blanca Venegas

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