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 2020
There was reduced production due to plant maintenance and production cuts amid poor market conditions. Many Chinese plants cut production as domestic downstream converters shut operations and transport logistics were hindered by the coronavirus spread. By the end of Q1, many Asian, including some Chinese plants, recovered their operating rates as feedstock spread improved and China domestic logistics and downstream operations resumed. Zhejiang Wankai New Material started up one new line in Chongqing, China.
Demand and buying confidence were affected by the coronavirus spread first in China, then globally. Amid the pandemic, global economic weakness, upstream crude price falls and PET price falls, the different downstream sectors had varied demand requirements, resulting in an overall regular demand for PET. Towards the end of Q1, purchases in some regions picked up ahead of the typical peak demand season for summer and upcoming regional holidays.
Compared to H1 2019, import statistics are likely to show a decline. Prebuying at the end of 2019 will have helped domestic suppliers early in the quarter. There was a greater pull on supplies in March, as the coronavirus created panic buying for food and water. One of Equipolymers’ two PET lines was down for mandatory maintenance for March.
Amid low oil prices and dull demand early in the quarter, there was an undercurrent of tension in the face of the potential effects of the coronavirus outbreak. As countries announced lockdowns, people rushed out to buy water and packaged food that would last, boosting sales late in the quarter. Low prices at the end of 2019 increased buyers’ appetite for buying forward, so fresh requirements early in the quarter were disappointing.
Polyethylene terephthalate (PET) supply in Latin America during the first quarter of 2020 was ample, with domestic and offshore offers. Offers from Mexico had to complete against Asian cheaply priced offers, particularly by mid-March when Asia returned to the international market following the coronavirus (Covid-19) outbreak in that country. Supply in Argentina and Brazil was adequate amid very slow market conditions worsened by the outbreak of the virus in the Americas.
Polyethylene terephthalate (PET) demand in Latin America in the first quarter of 2020 did not show a seasonal increase as the economies have been weak. Demand became especially slow as local currencies weakened against the US dollar. But an uptick in consumption emerged in late March as consumers rushed to the stores to bulk buy foods, drinks, hand sanitizers and cleaning supplies in their fight to prevent being infected with the coronavirus (Covid-19).
US polyethylene terephthalate (PET) supply during the first quarter of 2020 was ample to adequate as a consumption uptick emerged in March in preparation for quarantine due to the coronavirus (Covid-19) spread in many cities, counties and states.
US PET demand in the first quarter of 2020 was sluggish on seasonality and global weak economies. An uptick in PET consumption surfaced in March triggered by quarantine preparation for fear of the spread of the coronavirus (Covid-19) in many cities, counties and states.
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.
How can the PET industry accelerate the circular economy through collaboration? What does recent market volatility mean for the PET value chain? What are brand owners plans for sustainability, especially in light of approaching European Commission regulations? The 2020 PET Value Chain Conference has been designed with new features and additional networking opportunities to make sure you are well equipped to meet the goals of a sustainable future head-on.