- Import supply also contributes to the decline in prices- Pet demand is being pressed
by Asian imports





European monoethylene glycol consumption
remained low despite the long supply period. delayed US import-resupply
vessels continued to discharge into European storage tanks. Antifreeze demand was also lower due to shorter
supply. According to market sources, this was because seasonal demand for coolants
tends towards a decline in the spring. PET demand
was also weak and was being pressured by Asian imports. Sources
indicated that PET demand was still weak and under pressure from Asian imports. The antifreeze season is ending
and Europe is weaker," a trader stated. The increased supply in the USA
described it as being "healthier", while freight seemed to have
stabilized at just below $100-115/mt, ex-USG to ARA. Many PET
producers use the Asian spot price as part their formulas. However,...