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 2020
Asia
Supply was stable in Q3. Chinese producers maintained operations at high rates. However, Sanfame Group was running its unit at a reduced rate, while Jiangyin Chengxing Industrial Group’s plant remained shut since H2 April. Chinese inventories were at manageable levels. Other Asian producers mostly maintained steady rates.
Overall demand was stable, while spot demand was limited and flat. Some northern hemisphere countries went through a delayed and cooler summer. Margins came under significant pressure in Q3 on limited spot demand when PET prices softened, while feedstock PTA prices were flat and feedstock MEG prices were mostly on an uptrend.
Europe
Severe weather conditions in the US derailed upstream MEG, and in turn PET, temporarily turning Europe into an export market. JBF, Belgium, had a shutdown in August/September. Alpek Polyester UK announced it would close its 150,000 tonne/year plant.
The cancellation of multiple mass events and the grounding of flights slashed sales of drinks in PET bottles, in particular small bottles and carbonated soft drinks (CSD).
Latin America
PET supply in Latin America was ample during Q3, as buying interest started to decline following a spike in consumption levels for packaged foods and hygiene products due to the pandemic. Despite rising freight costs, Asian pellets were offered in the region with no interruptions.
Q3 demand slowed down on the back of economic woes stemming from prolonged quarantine measures and lockdowns. Buying interest was also affected by the cold winter temperatures in South America. Demand in Mexico was relatively weak, despite warm temperatures, as imports from the US declined until September following force majeure declarations on MEG and PET due to Hurricane Laura.
US
PET supply during Q3 was adequate, with most material provided by domestic producers. Force majeure declarations on MEG and PET following Hurricane Laura led to tight supply, but the tightness of domestic PET supply was offset by imports from mainly Mexico, Brazil and South Korea.
Demand remained strong in Q3 as a result of a change in end-users’ purchasing behaviour due to the pandemic. With most consumers staying at home, volumes of PET packaged foods, drinks and hygiene products remained high.
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.