US PET projected up by 4-6 cents/lb for August

21 August 2012 16:59  [Source: ICIS news]

MIAMI, Florida (ICIS)--US polyethylene terephthalate (PET) prices are projected to rise by 4-6 cents/lb ($88-132/tonne, €71-107/tonne) in August, propelled by a hike in feedstock costs, sources said on Tuesday.

PET prices fell by 5 cents in July and were assessed at 73-78 cents/lb DEL (delivered), according to industry sources.

Upstream, the US paraxylene (PX) August contract is likely to settle higher at 69 cents/lb, a major producer said. However, confirmation is still pending.  

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 = €0.81)

By: Blanca Venegas

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