13 December 2012 21:41 [Source: ICIS news]
NEW YORK (ICIS)--Indicators point to US polyethylene terephthalate (PET) prices staying flat in December, market sources said on Thursday.
Demand is soft, and is not projected to pick up going into January. Sources expect prices to roll over or decline by a few cents.
One source said he thinks PET may rise by 1 cent/lb ($22/tonne, €17/tonne) for the month.
PET had modest gains in October and November, with increases that raised prices by 4 cents/lb and 2 cents/lb, respectively.
Meanwhile, upstream PET feedstock costs are showing strength. Paraxylene (PX) and monoethylene glycol (MEG) prices in the Asian spot markets rose in early December, driven in part by a stronger downstream purified terephthalic acid (PTA) market.
Market participants are monitoring trends in the Asian feedstock spot prices, which can have an impact on US prices.
PET prices are at 85.50-90.50 cents/lb SBM (stretch blow moulding) DEL (delivered), as assessed by ICIS.
PET producers in the US include DAK Americas, Indorama, Mossi & Ghisolfi (M&G) and Nan Ya Plastics.
($1 = €0.76)
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