- June ECP still in focus- Mixed Views about Demand



In Europe, higher feedstock prices have
helped to raise prices for virgin polyethylene Terephthalate over the week
ending July 6. However, no significant changes to market fundamentals were
noticed. Market
participants closely watched the outcome of the June paraxylene price
negotiations. Market participants closely
watched the outcome of the June paraxylene contract price discussions. There
were divergent price ideas between consumers and producers. European PET producers are facing pressure due to falling
production margins and higher feedstock prices. Market sources report that offers have increased, with
levels reporting at Eur1,800-1,830/mt DDPNWE. Sources pointed out that PET producers have two options:
lower production or pass down higher feedstock costs. Sources noted that there was no clear arbitrage window for
PET imports from Asia. However, they did note...