US PET rises 4 cents/lb in August on feedstock costs

30 August 2012 23:08  [Source: ICIS news]

MIAMI, Florida (ICIS)--US polyethylene terephthalate (PET) prices rose by 4 cents/lb ($88/tonne, €70/tonne), following higher feedstock costs, sources said on Thursday.

August PET domestic prices were assessed by ICIS at 77-82 cents/lb DEL (delivered), higher compared with 73-78 cents/lb in July.

Upstream, the US paraxylene (PX) August contract settled at 69 cents/lb, up by 6.15 cents/lb from July, following higher Asia PX 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 = €0.80)

By: Blanca Venegas

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