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Asian PET: Stable despite thin spot trading /Trade negotiations are difficult due to high freight costs / China's Yi Sheng will begin the turnaround at the 3.6 million mt/year Ningbo PTA in May

Asian PET: Stable despite thin spot trading /Trade negotiations are difficult due to high freight costs / China's Yi Sheng will begin the turnaround at the 3.6 million mt/year Ningbo PTA in May

Apr 29, 2024

The Asian polyethyleneterephthalate (PET) market was stable during the week of April 24, despite a lack of spot trading. This led to a decrease in demand for domesticconverters, as they scaled down their operations. Nonetheless, plantoperations have resumed post holidays.Prices and sentiment softened in the polyester yarn and fibersector as sales volume failed to pick up despite approaching theend of the traditional peak demand season.Producers are beginning to see increased inventory pressureas end-users are still waiting on the sidelines with no urgentbuying needs, amid expectations of further price decline on weaksentiments, sources said."New orders are limited recently and trading activity tends toslowdown moving into May," a source said.Polyester and textile operating rates were estimated at 93%and 79%, respectively, a trader said, adding that the operatingrates are still maintained at relatively...

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