PLASTIMAGEN ‘19: US April PET prices flat despite firming feedstocks

MEXICO CITY (ICIS)–US polyethylene terephthalate (PET) prices will remain flat in April despite increasing upstream paraxylene (PX) values for March as demand is slowly improving, sources said on the sidelines of PLASTIMAGEN MEXICO 2019.

“It is a buyer’s market right now. Demand is better, but it needs to improve,” the source said. “Cold weather conditions and frequent rains this winter dampened demand levels.”

Prices were mostly stable throughout March following a 3-5 cent/lb hike in February.

Buying interest is expected to improve in the second quarter in anticipation of re-stocking activity in preparation for higher end user demand in the bottling sector.

Spot resin offers continue to be heard at March levels of 63.5-68 cents/lb DEL for both domestic and imported resin.

DAK Americas, Indorama, Nan Ya Plastics Corporation and Far Eastern New Century (FENC) are PET producers in the US.

PLASTIMAGEN MEXICO 2019 takes place on 2-5 April in Mexico City, Mexico.