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 Q1 2021
Supply increased compared to the previous quarter. A plant in India restarted in H2 January, and there was less plant maintenance in Asia. A plant in China remained under maintenance, while a plant in Taiwan and a plant in South Korea underwent planned maintenance. Spot supply was tight in the second half of the quarter as sales of Asian cargoes was robust amid a few weeks of price surges and supply shortages in other regions.
Demand was stable for the first half of the quarter, becoming robust shortly after the middle of the quarter due to supply shortages in other regions such as the Americas and Europe caused by production cuts. Prices surged quickly and some traders took on long positions, boosting spot demand. Towards the end of the quarter, spot buying interest tapered down as end-users had fulfilled their requirements. The market outlook became uncertain with upstream price fluctuations.
The year began after a series of shutdowns, so by the time the effects of freight delays and container shortages hit the PET value chain, PET supply was in a state of critical tightness. Further production problems and feedstock shortages lead to multiple force majeure declarations and reduced output.
Requirements for domestic PET soared in the wake of so many supply obstacles along the PET value chain. There were moments of panic buying as customers realised Europe would be lacking in Q1 imports. Once production failures hit the industry, due to technical problems and the lack of feedstocks, buyers attempted to source product from sources not normally on their radar. End-user demand though, remained lacklustre.
PET supply in Latin America during Q1 was tight as the market was recovering from shortage of US feedstock MEG after an active hurricane season. The supply situation worsened following the mid-February polar storm that impacted production at MEG and acetic acid plants in Texas.
PET demand in Latin America in Q1 was strong as the market was recovering from shortages in Q4 of the previous year. The mid-February polar wave that impacted MEG and acetic acid production in Texas, limited resin production further in the Americas, creating an environment of even stronger demand amid high prices.
Q1 supply was very tight as a shortage of feedstock MEG and acetic acid, due to the mid-February polar wave in Texas, constrained PET production in the US. Mexico’s production was also affected, jeopardising import volumes from that country.
Demand in Q1 was strong and is likely to remain very strong due to its use in several applications to prevent the spread of the coronavirus. A shortage of feedstock MEG and acetic acid, due to the mid-February polar wave in Texas, constrained PET production, creating an environment of even stronger demand.
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.