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 Q4 2019
Polyethylene terephthalate (PET) supply dropped further in Q4 2019 as there was a higher concentration of PET plant maintenance and production cuts. Several Asian producers planned maintenance amid the seasonal demand lull. A couple of Chinese producers were running their plants at reduced rates due to poor margins and demand slowdown, while Chinese producers’ inventory climbed up slowly. Previously completed forward sales limited spot transactions and maintained a generally calm atmosphere for both buyers and sellers.
Demand was subdued due to the seasonal lull with the start of winter for countries in the northern hemisphere. Some demand support would usually come from countries in the southern hemisphere for their summer, but it was not strong during the quarter. Another reason for subdued spot demand was forward sales done previously, resulting in many buyers still having sufficient inventories from their pre-bought cargo. Pre-buying continued and discussions for H1 2020 cargoes were heard.
The polyethylene terephthalate (PET) value chain was in oversupply throughout the final quarter of the year. This stemmed from larger-than-expected stocks created by an influx of imports, poor weather in the peak summer season and macroeconomic negativity. There were also new capacities in Asia. The newest of three PET lines at Neo Group’s Klaipeda plant in Lithuania was still on force majeure on PET, due to problems transporting feedstock.
Low prices heralded an active pre-buying market for PET in the fourth quarter. This included hedging, fixing prices for 2020 and regular forward buying activity. However, demand for freely negotiated and spot was subdued because material was so plentiful, particularly as the year drew to a close.
Polyethylene terephthalate (PET) supply in Latin America during the fourth quarter of 2019 was assessed ample on stable regional production and abundant offers from offshore sellers, particularly in Central and South America. Declining buying interest in the US due to the global slowdown and seasonality, drove Mexican and Asian producers to offer more material in Central and South America.
PET demand in Latin America in the fourth quarter of 2019 decreased despite warmer weather conditions in South America. The global slowdown and regional political and economic issues in several countries slowed business considerably. Sustained price drops of PET resin were not able to improve demand levels. Domestic demand in Mexico was also slow as well as from the international front, mainly due to the slowdown in the US.
US polyethylene terephthalate (PET) supply during the fourth quarter of 2019 was gauged as abundant due to the slowdown noted in the country as a result of the prolonged US-China trade war. Plenty of offers from offshore sellers further contributed to abundant supply and declining prices. It is not clear whether reduced operating rates will help balance the market.
US PET demand in the fourth quarter of 2019 was very weak due to the slowdown noted in the country as a result of the prolonged US-China trade war. Seasonality also contributed to lower demand levels as the weather turned cold. Declining resin prices and abundant global supply drove several buyers to postpone purchases in hopes of even weaker prices in early 2020.
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.
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