Asian PET: Sentiment weakens about falling crude- Deal volumes lesser on week
amid upstream volatility- Stable demand-supply
fundamentalsSelling indications for Asian bottle-grade polyethylene
eterephthalate chips remained firm in the week ending March 15,amid snug
supply.In China, offers for April- and May-loading PET were heardat
$975-$990/mt FOB China, with a producer saying a fewdeals were done at $970/mt
FOB China for May loading,but overall deal volumes were lower compared to
theprevious week.Buying interest was also weaker, market sources said,
asuncertainty was mounting amid falling crude oil prices.However, producers
kept operating rates unchanged from theprevious week at 90%-100% despite the
lower buying interest,as production margins remained healthy and inventory
levelswere thin.In the polyester fiber and yarn markets, prices fell on the
backof declines in feedstock PTA prices.Lower offers failed to boost demand,...