Chinese PET exports move north amid increasing upstream values

Players reported that export PET from China has firmed up by $40-60/t compared to last week on the back of increasing upstream costs and positive expectation on possible pick up in demand during the traditional peak season for PET application in the near term.

A Chinese PET producer lifted export offers by $50/t compared to last week said, “We have also adjusted our domestic offers by CNY200-250/t ($31-38/t) following the international trend, however, our regular customers have yet to confirm any orders claiming sufficient stock from previous purchases. We expect demand to pick up soon as the market is entering the traditionally peak season for PET bottle.”

Another international trader added, “We decided to raise our offers for Chinese PET cargoes by $45-55/t to reach $870/t CIF SEA market. The number of deal is not as per expected at the new price level, yet we prefer to maintain firm stance on our cargoes, hoping the market to pick up in the coming days.”

Export PET from China is currently reported at $860-900/t FOB China, LC AS term.

Please refer to the Daily Price section on www.commoplast.com for detailed import and local prices to/in China and Southeast Asia market.