Asian
PET: CFR China Marker up $15-20/mt due to firm demand-
Firmer PTA feedstock assistance-
China's COVID-19 restrictions ease marketConfidence
Export prices in China's PET market rose $15-20/mt during the week ending
December 21st, as higher 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 said that the price direction is
determined by crude oil.Asian
PET Weekly...