SABIC lowers April PET list prices on softer feedstocks

Hazel Goh

27-Mar-2014

PET is used in plastic drinking bottles and in textilesSINGPAPORE (ICIS)–Saudi Arabia’s SABIC announced its April list prices for polyethylene terephthalate (PET) bottle-grade chips at $1,330-1,370/tonne DEL (delivered) Gulf Cooperation Council (GCC), down by $50-70/tonne from March, a company source said on Thursday.

The prices were adjusted lower to reflect the declines in feedstock purified terephthalic acid (PTA) and monoethylene glycol (MEG) prices in the month of March and to close up the price gap from Asian material, the source said.

Most market players were waiting for the April list prices and there were few discussions in the market prior to the release of the prices.

More trades and discussions are expected in the coming week.

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