Asian PET: Outlook bearish about uncertain
downstream markets■ Bottle-grade PET chips prices remain stable
based on the unchanged fundamentals■ Polyester
yarn prices and drop-in feedstockThe prices for PET chips in
bottles were stable during the week ending June 29th, while fundamentals
remained constant. Trade
was stable in China's domestic and export markets. Some traders reported that
August-loading discussions had begun. Although
margins for PET chips in bottle grade were positive, some producers stated that
spreads against MEG/PTA were lower than they were in early Q2, as PET prices
had dropped due to lower demand. The fall
in key feedstock MEG/PTA prices and weaker demand for finished goods caused the
polyester yarn and fiber grade prices to drop. As falling prices upstream affected purchasing activity, the
sentiment was low. Many Chinese producers were heard discussing a...