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Cotton key driver for PET feedstock price hike trend in Europe

October 08/2010

ARTIMINO (ICIS) -- A lack of cotton is driving up the value of purified terephthalic acid (PTA), the feedstock for cotton substitute polyethylene terephthlate (PET), speakers at a PET industry forum said on Thursday.

 

The polyester industry has to pay more (for PTA). Cotton is too high and I wouldnt be surprised if PET rates were cut for lack of  (PETs feedstock,) PTA, commented Global Service Internationals (GSI) CEO Francesco Zanchi.

The recent flood in Pakistan has destroyed the cotton crop, not only for now but for the foreseeable future, Zanchi added.

Worldwide polyester growth was estimated at 3m tonnes/year. Add to that a further half a million tonnes as substitution for the lack of cotton and that translates to 3m tonnes of PTA and 2m tonnes of paraxylene (PX), the main PTA feedstock, said Sanjay Sinha of Reliance.

Speakers at the meeting warned that higher feedstock costs would lead to more expensive PET.


The price of PET will go up in dollar terms no doubt and in a substantial way...Today is the lowest price for the next six months at least, Zanchi said, urging customers to buy product while they could.


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