The weekly Polyethylene Terephthalate (PET) price report is published in Asia, Middle East, Europe, CIS, the US and Latin America. The reports cover, if applicable to the region, different grades of PET such as bottle, film and fibre, domestic prices, spot prices, production news, feedstock quotes, exchange rates and price history.
The unbiased and informative reports are full of news and analysis, and are a vital tool for those involved in the industry to use to make better informed decisions.
Updated to Q3 2018
In July, Far Eastern Vietnam Petrochemical is looking to start up its 400,000 tonnes/year plant in Vietnam, and Jiangyin Chengxing Group estimated the restart of its 600,000 tonnes/year plant in China. The additional steady supply on the market from these plants is expected in August-September.
Overall demand is expected to slow down. The peak summer demand in the northern hemisphere will taper off. While the supply tightness is expected to ease in Q3 2018, buyers are likely to keep their purchases on a hand-to-mouth basis.
The PET market in Europe still has a way to go before supply normalises, amid continued and additional restrictions on upstream PTA. PET will be short, snug at the very least, through June and July, but come August, September or even as late as October, depending on what imports arrive and on how demand fairs, the market should balance out.
The summer is peak season for bottlers. However, with customers absorbing as much PET as possible before the season, many will have filled their warehouses. A large percentage of the market is contracted, so offtake should remain relatively high. Price-wise the uncertainties around macroeconomic events could easily swing the situation from one day to the next.
Oman producer Octal was resuming operating rates in end-June and early July. There is no update about when JBF RAK will restart its PET plant in UAE that has been shut since June 2017. The GCC region will continue to see imports coming from Asia such as China and India.
The GCC PET demand is expected to be stable in the third quarter as weather in the region usually remains warm through the coming months. The operating rates of downstream PET converters are likely to maintain at high rates to support robust end-consumption of bottled beverages in the warm weather.
US polyethylene terephthalate (PET) supply is expected to improve in the third quarter with the start-up of Far Eastern New Century’s (FENC) resin plant in Apple Grove. The 360,000 tonnes/year plant has been offline since October 2017 and will provide relief to a snug market. The market will still be tight, however.
US polyethylene terephthalate (PET) demand will remain strong in the third quarter as buyers are concerned primarily with securing sufficient inventory levels. The start-up of the FENC plant will help to absorb some demand, but it will not be enough for all demand. The US is still expected to be short on resin this year with demand outpacing supply.
We offer the following regional Polyethylene terephthalate analysis and news coverage to keep you informed of factors and developments affecting prices in the Polyethylene terephthalate marketplace.
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Polyethylene terephthalate (PET) exists both as an amorphous (transparent) and a semi-crystalline (opaque and white) thermoplastic, and can be made into either a resin or a film.
Polyethylene terephthalate (PET) has a crystalline structure and good chemical resistance to mineral oils, acids and solvents but not to bases. It has good electrical resistance, low moisture absorption; it resists combustion and is self-extinguishing.
PET exists both as an amorphous (transparent) and a semi-crystalline (opaque and white) thermoplastic, and can be made into either a resin or a film. The semi-crystalline PET has good strength, stiffness and hardness while the amorphous PET has better ductility.
PET can be made into a resin, fibre or film. The largest outlet is synthetic fibres, followed by bottle resin. PET film is used in electrical applications and packaging.
In the manufacture of PET resins, purified terephthalic acid (PTA) and monoethylene glycol (MEG) are reacted to make a basic ester which is polymerised in a melt phase, polycondensation finishing reactor.
Dimethyl terephthalate (DMT) is an alternative feedstock to PTA but the PTA route is preferred. The molten polymer is extruded, cut into chips and cooled. The chips pass to a solid state polycondensation unit to form the PET resin.