25 October 2012 17:53 [Source: ICIS news]
HOUSTON (ICIS)--A 3-cent/lb ($66/tonne, €51/tonne) increase in US polyethylene terephthalate (PET) prices was proposed for November based on higher upstream costs, market sources said on Thursday.
Some buyers said there is no chance that this increase for November will go through because they expect raw material costs will fall.
Meanwhile, PET prices for October held steady, though there is still expectation that an increase will go through. Some sources said October prices will rise by 2-3 cents/lb, but a few others still predict an increase closer to 4 cents/lb for the month.
“October [raw material costs] are up close to 2 cents/lb,” said one producer.
Expectation all around is that October PET prices will not hit the 6-cent/lb price hike initially proposed in September.
PET producers in the
($1 = €0.77)
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