Chinese makers cut export PET offers

It is reported that several Chinese producers have down adjusted export PET offers this week by $20-30/ton compared to the pre-holiday levels, bringing latest prices to $980-990/ton FOB China, LC AS term.

Local demand turned out to be weak in the post holiday term as the bottled beverage sector slow down purchasing ahead of the winter. “However, the polyester sector should pick up and therefore, we are not expecting any drastic price reduction in the near term,” a market source informed.

“Besides, the general supply within Asia is tight and we are hoping that demand in the Southern Hemisphere would slowly come back with monsoon season coming to an end,” another market source added.