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Asian PET: Falling amid lack of strong Demand / Polyester plant operating rate in China estimated to be 93% / Sinopec's Yizheng PTA Plant starts operation at 1.5 million mt/year Line 3

Asian PET: Falling amid lack of strong Demand / Polyester plant operating rate in China estimated to be 93% / Sinopec's Yizheng PTA Plant starts operation at 1.5 million mt/year Line 3

Apr 22, 2024

Prices in the Asian polyethylene terephthalate market fell inthe week to April 17 amid a lack of strong demand improvement.Enquiries from buyers slowed compared to March, and theprevailing high freight rates have made it more challengingfor both buyers and sellers to reach an agreement for tradenegotiations, sources said."The market remains stable with average demand, with nosignificant fundamental change or improvement," a trader said.In the polyester fiber and yarn sector, prices trended lower onthe week as sales volumes slowed.This was largely due to reduced restocking needs as buyersheld back at current prices, especially with sufficient inventoryavailable, sources said.Meanwhile, polyester facility operation rates in China wereestimated around 93%, up slightly from 92% the previous week,they added."Most polyester plants were expected to keep operating ratesat around 90% given slow improvements in textile demand,...

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