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US PET prices rise 3 cents/lb in January on feedstocks

January 21/2011

(ICIS) -- US polyethylene terephthalate (PET) prices rose by 3 cents/lb in January over December, on higher prices for feedstocks paraxylene (PX) and purified terephthalic acid (PTA), sources said on Thursday.


January US PET prices were assessed at 86.71-88.71 cents/lb ($1,912-1,956/tonne, ?1,415-1,447/tonne) after the increases, according to ICIS.


One PET producer announced a second 3 cent/lb hike, effective in mid-January. However, sources said that the additional January increase was not industry-wide and would probably be seen only for sales above regular volumes.


Nominations for February PET were up by as much as 9 cents/lb, as sellers attempted to keep pace with surging feedstock values and protect threatened margins.


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