In Asia, PET prices have inched up last week, due to the impact of rising raw material prices. Price MEG market in the region has escalated in the week about $ 25-30/tan PTA futures prices and crude oil. Crude oil futures on the NYMEX August delivery rose by $ 3/thung last week after hitting a record high in the past 15 months on 10/7.
In China the domestic nah raise export prices by $ 10/tan PET than last week citing rising raw material. News from a manufacturer says, “We stay ranng prices will remain high in the short term especially after PTA futures prices rose more in the last week.” Another source adds, “We can consider further price increases in the short term because of low profitability.We hope PTA and MEG prices continue higher, supported by the fabric industry. ”
Despite increased export prices, a few sellers see demand decline after adjusting them. One provider said, “Buyers have to wait and see attitude before rising price situation. The output seems to increase supply by producers often for their plants operating at high speeds while buying down. “Some other seller certification is relatively weak purchasing power and adds “We are ready to negotiate for the price lean. However, we do not want to cut more concessions by the energy market is vibrant. ”
In Southeast Asia, this week PET prices from stable to slightly higher than last week, while firms said they are expecting fixtures will increase in the days to sync with rising raw material prices. A regional manufacturers hold rates until the end of the week. News of a production nah, said: “We may consider raising prices slightly in the coming days $ 10-20/tan sync with the happenings in the market prices watershed. Demand in Southeast Asia satisfactory by the customer contract with us to purchase some goods but have vacation coming Ramadan. We are currently running the plant at full capacity. ”
Last week a leading manufacturer in the Far East Asian PET prices increase $ 10-20/tan exports, said the needs in China rather than the source of raw materials and rising prices. Enterprise said “We do not expect prices will rise much notice because many buyers have a number of reserves available. We expect prices to rise modestly in sync with the source material price increases. ”
Meanwhile, buyers in this area is almost calm through some goods were stored before the recent price increase. A bottle maker in Indonesia has received bids PET both domestic and imports with an increase of $ 10-20/tan week. Enterprise said: “Our inventories at adequate until early August because two weeks ago we bought several lots at the time when prices have hit bottom. “A terminal manufacturer in Vietnam that received PET bid higher drips and said,” The demand for the final product is good for us as we had been assured by the end of January 8 thanks were few shipments reserve with a lower price. ”
