17 May 2013 23:59 [Source: ICIS news]
Buyers for polyethylene terephthalate (PET) production are paying €880-910/tonne ($1,128-1,167/tonne) FD (free delivered) Europe, although one said it did not agree with the low end of this contract range.
Spot material has increased in value as European operating rates are curtailed due to poor market conditions and maintenance. There were no confirmed details of prices or of production status.
"PTA producers are tired of burning money so they reduced capacity," a customer said.
There has been a slight improvement in demand for PET and PET producers have increased their rates to accommodate requirements.
($1 = €0.78)
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