European PET: Low imports cause price pressure-  Imports
in focus-  MEG, and PX
October Contracts settleSpot prices for European polyethylene
Teraphalate fell over the week ending Nov. 9. This was attributed to the
decline in Asian imports, which are competitively priced. According to one source,
imports were Eur150/mt lower than the European market rate and prices were
falling partly due to increased competition. Producers are having trouble due to higher MEG and PX
October settlements than they expected. Additionally, rising energy costs
continue to add pressure. Sources reported
that producers are asking the European Commission for an anti-dumping duty to
be imposed on Chinese PET imports. This is a sign of the cost pressure on their
cost structures. However, the results of these efforts remain uncertain. Even when accounting for import purchases was done, overall...