US PET prices roll over in December on flat feedstock costs

20 December 2012 19:52  [Source: ICIS news]

NEW YORK( ICIS)--Prices for US polyethylene terephthalate (PET) rolled over in December on the back of flat upstream feedstock costs and soft demand, market participants said on Thursday.

Producers and buyers confirmed the rollover, and some said they expected a slight decrease.

Meanwhile, producers DAK Americas and Nan Ya Plastics have announced 5 cent/lb ($110/tonne, €83/tonne) increases for PET in January, the companies confirmed. However, buyers said they expect prices in January to increase by 4 cents/lb, despite the 5 cent/lb announcement.

PET bottle grade prices are at 85.50-90.50 cents/lb SBM (stretch blow moulding) DEL (delivered), as assessed by ICIS.

Feedstock costs were also flat for the month, with the December paraxylene (PX) contract price settled at 76.50 cents/lb DEL, a rollover from last month, as assessed by ICIS.

The downstream US purified terephthalic acid (PTA) contract was assessed unchanged in the month at 64.54 cents/lb DEL. The monthly US PTA price is based on the contract settlement of feedstock paraxylene (PX) on a formula-based correlation.

December contract price ideas for feedstock ethylene glycol (EG) were heard  lower by 3-4 cents/lb ($66-88/tonne, €50-67/tonne) amid softer demand. EG prices are expected to stabilise for the remainder of December in anticipation of the holidays, sources said.

PTA and EG are principal feedstock for PET, which is mainly used in plastic bottle production and in textiles.

PET producers in the US include DAK Americas, Indorama, Mossi & Ghisolfi (M&G) and Nan Ya Plastics.

($1 = €0.75)

By: Feliza Mirasol
+1 713 525 2653

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