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Asian PET prices grew by USD25-40/tonne this week

July 26/2013

MOSCOW (MRC) -- PET market players reported higher export prices of Chinese and Korean bottle granulate, an increase of USD25-40/tonne from last week, according to ICIS-MRC Price report.

The spread of Chinese PET spot prices was heard at USD1,410-1,420/tonne FOB China. Spot deals were being concluded by major buyers at USD1,395-1,400/tonne FOB China.

Prices of Korean bottle PET grades were announced at USD1,440-1,450/tonne FOB Korea.

Feedstock price increases were a cause of the present PET price rise, said a Korean trader. Paraxylene prices went up because of a surge in oil prices in July. MEG prices also showed a rapid upward trend. Buying activity is going to grow in early August due to the end of the long holidays - Ramadan, a source added.

Major consumers of imported granulate in Russia and Ukraine said the growth of export prices in late July was predictable. Also, some market players expect an increase in purchasing prices by late August and a possible start of an upward price trend. Meanwhile, converters and traders said that the cost of procurement will be affected not only by higher export prices. An increase in an additional fee to the starting freight rate (GRI) will also affect pricec of the material brought to the CIS markets.
Author:Margaret Volkova
Tags:PET, granulate, MEG, paraksilol, PET bottles, China, Russia, Ukraine, South Korea.
Category:General News
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