- Firmer PTA feedstock assistance- Lifting COVID-19 China
restrictions boosts market confidence





In China, export prices rose $15-20/mt
during the week ended Dec. 21 as more replenishment needs boosted indicative
bids. According to a trader, the stronger
Yuan against the greenback has boosted import demand. These are denominated as
the US dollar. A Chinese trader said that PET market feedstock
has also been increasing in value. Another Chinese producer stated that
PET chip demand has increased as many people expect the economy will grow
following the lifting of COVID-19 restrictions. "Some
market confidence is back." A Chinese producer said that the
COVID-19 restrictions will be relaxed, which will increase consumption. However, the
same producer stated that crude oil is what will determine the price direction. The February
ICE Brent crude oils futures contract rose $0.84/b over the...