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Meager impact of recently imposed duties by EU on Lotte Pakistanís PTA sales

October 06/2010

(Plastemart) -- The recently imposed duties on PET (Polyethylene Terephthalate) by the European Union, is not likely to have any sizeable impact on Lotte Pakistanís PTA sales, according to The Express Tribune. Over 30% of Purified Terephtalic Acid (PTA) production is sold to the PET sector, while the rest goes to others. Any drop in demand from the PET sector is expected to be soaked by the PSF (Polyester Staple Fibre) segment which remains well in demand as Pakistan is a net importer of almost 100,000 tpa.

The European Union (EU) imposed countervailing duties of ˆ44/ton on PET imports from Pakistan, in addition to imposing the same on Iran and UAE. The three together account for about 39% of total PET imports into the EU.

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