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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections