Export prices for bottled PET in Asia last week generally remained at the previous week amid minimal fluctuations in the cost of raw materials, the ICIS-MRC Price Report said.
Overall, PET prices were in the range of USD840-870/tonne FOB China. Most spot deals were for deliveries in October, but there were also September and November.
According to market players, the supply of bottle brands of PET chips in the spot market was sufficient, and consumer interest was consistently high. The increase in spot purchases may be a result of an increase in the contract price of paraxylene in Asia and a slowdown in the downtrend in PET prices.
However, some producers still reported limited spot deals and refuse to cut prices due to lower production margins.
The contract prices of Russian plants this month fell to roubles (Rb) 78,000-81,000/tonne CPT Moscow, including VAT, the lowest level since the beginning of 2018. At the same time last year, formula prices were on average up by Rb30,000/tonne.