28 February 2013 22:59 [Source: ICIS news]
HOUSTON (ICIS)--US polyethylene terephthalate (PET) prices were up by 3 cents/lb ($66/tonne, €50/tonne) for February material on the back of higher feedstock costs, sources said on Thursday.
With the increase, February PET prices are at 91.50-96.50 cents/lb SBM (stretch-blow moulding) DEL (delivered), according to ICIS.
The increase is not uniform across all deals. At least one source confirmed that they finalized a deal for February PET material at a 2-cent/lb increase.
The contract price for upstream US paraxylene (PX) was settled up by 3 cents/lb in February, rising in tandem with the PX Asian Contract Price (ACP) settlement for this month.
US PET prices are usually determined once the feedstock PX and purified terephthalic acid (PTA) contract prices are known. US PX contract pricing and the downstream PTA contract generally follow trends in the PX ACP.
PX is used in the manufacture of PTA, which is a principal feedstock for PET production. PET is mainly used in plastic bottle production and in textiles.($1 = €0.76)
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