22 October 2013 18:13 [Source: ICIS news]
LONDON (ICIS)--Several polybutylene terephthalate (PBT) buyers and sellers are expecting fourth-quarter contract prices to roll over because of unchanged fundamentals, they said on Tuesday.
Demand for PBT from the automotive industry is strong and has been strong throughout 2013, in spite of generalised weakness in the industry.
The majority of this demand is coming from German OEDs, which are performing above the wider market, boosted by strong exports of finished goods to Asia because of upward social mobility, particularly in China.
EU new passenger car registrations for January-August this year were at their lowest-ever level, declining by 5.2% year on year, according to the European Automobile Manufacturers’ Association (ACEA).
Nevertheless, engineering plastics serving the premium automotive market have remained resilient. Demand from the premium automotive sector has been driven by exports of finished goods to Asia, fuelled by upward social mobility.
($1 = €0.73)
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