SABIC Dec PET prices fall by $70/tonne in the Middle East

28 November 2013 13:11  [Source: ICIS news]

SINGAPORE (ICIS)--Saudi Arabia’s SABIC had reduced its December prices for polyethylene terephthalate (PET) bottle-grade chips by $70/tonne (€52/tonne) from its November prices, a company source said on Thursday.

SABIC’s December prices for bottle-grade chips was offered at $1,390-1,420/tonne DEL (delivered), depending on the PET grade, said the same source.

Prices have fallen to this level because of the traditional weak demand season during the upcoming winter, added the source.

SABIC’s November listing prices were at $1,460-1,490/tonne DEL, depending on the PET grade, a $90-100/tonne reduction from its October values as it follows the availability of lower-priced Asian PET cargoes in that period.

($1 = €0.74)

By: Xia Xue
+65 6780 4327

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