12 September 2013 23:05 [Source: ICIS news]
NEW YORK (ICIS)--US polyethylene terephthalate (PET) prices are poised to rise further this month, with producers targeting price increases of 3 cents/lb ($66/tonne, €50/tonne) and 4 cents/lb from August levels, sources said on Thursday.
A buyer, however, said it expects PET to increase less than 3 cents/lb for September, which he bases on raw material price movements.
Demand is slightly up for autumn, though still modest, as the market did not perform as strongly as participants expected during its usual peak season in the summer.
August PET prices were a mixed settlement, though the overall trend was up.
August prices were assessed in the approximate range of 84.50-90.00 cents/lb stretch-blow moulding (SBM) delivered (DEL), up from 82.50-87.50 cents/lb SBM DEL in July.
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 = €0.75)
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