30 May 2013 22:48 [Source: ICIS news]
One buyer has not finalised its May deals yet, but is looking at a rollover.
Another buyer said it has partially settled its May deals and is expecting May PET to be flat to slightly down. Other market players echoed that sentiment.
One producer said it will settle its May PET prices at a rollover now that upstream paraxylene (PX) has been fully settled slightly down.
The PET price range of 83.50-88.50 cents/lb ($1,841-1,951/tonne, €1,418-1,502/tonne) stretch blow moulding (SBM) delivered (DEL) is in line with current market values, market sources said.
Typically, market players do not reveal the prices at which they settle their PET deals, and instead follow price deltas stemming from the outcome of settled feedstock contract prices.
The upstream PX contract was settled down by 0.25 cents/lb in May to 72 cents/lb DEL, which took the downstream purified terephthalic acid (PTA) May contract price down slightly to 61.51 cents/lb DEL. PTA is the intermediate chemical used to manufacture PET.
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)
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