11 April 2013 22:51 [Source: ICIS news]
HOUSTON (ICIS)--Market players have mixed expectations on how far US polyethylene terephthalate (PET) prices will fall for April material, with declines projected at 4.0-6.5 cents/lb ($88-143/tonne, €68-110/tonne), producers and buyers said on Thursday.
One producer said it is too early yet to tell about April pricing. Meanwhile, several market sources are in consensus that 5 cents/lb is going to be the end result of April declines.
Those on the side of a decrease closer to the 4 cent/lb end point to anticipation for price increases in May, higher-cost raw materials moving forward and the fact that regional producers need margin improvement.
The PET trend follows decreasing feedstock prices in monoethylene glycol (MEG) and purified terephthalic acid (PTA) via the upstream paraxylene (PX).
For March PET, buyers and sellers said they closed their deals at the end of that month at 2-2.5 cents/lb lower. At least one producer closed deals at 1-2 cents/lb lower, depending on the size of the customer, he said.
US PET is in the range of 89.50-94.50 cents/lb SBM (stretch-blow moulding) DEL (delivered) for March.
PET is 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 = €0.77)
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