28 March 2013 23:59 [Source: ICIS news]
LONDON (ICIS)--The majority of European polyethylene terephthalate (PET) prices in March were steady, with evidence of a €10/tonne ($13/tonne) decrease at the low end compared with February, sources said on Thursday.
Suppliers in south Europe included €1,340/tonne FD (free delivered) in their average sales price, but there was no confirmation of this from buyers.
"The bulk of the few deals already closed are to be found between €1,325-€1,340/tonne," a producer said.
Pockets of availability shortages created exceptional hikes to around €1,400/tonne, while other areas witnessed length that occasionally brought prices to just below €1,300/tonne.
The majority of March transactions took place at €1,300-1,330/tonne.
Suppliers are hopeful of maintaining or even growing margins in April, despite anticipating a significant drop in the cost of production.
"…If the demand suddenly changed direction then prices should hold up giving margin gain," a second producer said.
($1 = €0.78)
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