Stand-off between PET buyers and sellers spans Europe and Asia.
Polyethylene terephthalate (PET) markets in both Europe and Asia are showing upward pressure on production costs in what should be the start of peak sales, yet buyers in central Europe are holding back.
Asian PET markets trend higher on firmer costs, nearing high season.
After witnessing short-lived losses in the midst of the disappointing post-Chinese New Year holiday demand, PET markets across Asia have mostly moved up this week on the back of firmer upstream costs and the approaching high season in the Northern Hemisphere.
China PVC market supported near term by improved sentiment.
China’s polyvinyl chloride (PVC) prices are expected to be supported by improved sentiment following the government’s economic stimulus measures, in spite of downward pressure from continued weakness in demand.
Stable to firm trend pervades PP markets in Mid-East, Africa.
New PP offers in the Middle Eastern markets have rolled over or increased from last month amid planned and unplanned shutdowns after firming attempts showed up sporadically but somehow failed to prevail across the region in February.
Indonesia’s Polychem to shut MEG line due to poor margins.
Polychem Indonesia plans to shut its 96,000 mt/year monoethylene glycol line at Serang in Java next week, without a confirmed restart timeline, in response to poor margins, a company source said Tuesday.