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Average 2012 Europe PET prices similar to Sept ĺ11 - customers

October 07/2011

LONDON (ICIS) -- The average 2012 price of polyethylene terephthalate (PET) in Europe is unlikely to vary much from current levels, customers predicted at a PET industry forum on Thursday.

ôSpeculation is affecting prices... The market is finding a new level around ?1,300/tonne ($1,733/tonne),ö a buyer said.
Various customers at Global Service Internationalĺs (GSI) ninth annual ôPET dayö in Artimino, Italy, estimated the PET price would average ?1,375/tonne FD (free delivered) Europe.
The September 2011 price is assessed at ?1,350-1,390/tonne, up ?50-70/tonne compared to August, according to ICIS.

Converters agreed that 2012 would see the ?1,300s/tonne and between them came up with an average of ?1,335/tonne in a pole conducted during the conference.
Bottlers, however, envisaged PET prices averaging at ?1,275/tonne in 2012.
Based on a raw material calculation using paraxylene (PX) and monoethylene glycol (MEG), PET was pegged in the same pole at ?1,430/tonne for next year.

In the short-term, those customers willing to comment are expecting to see some sort of an increase in October because of potentially higher feedstock prices.

Tags:bottles others, MEG, paraksilol, preforms.
Category:General News
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