SABIC lowers March PET list prices amid falling upstream prices

27/01/2014 ICIS

Saudi Arabia’s SABIC announced its March listing prices for polyethylene terephthalate (PET) bottle-grade chips at $1,400-1,420/tonne DEL (delivered) on Wednesday, down by $40-50/tonne from February listing prices, a company source said on Thursday.

The prices are adjusted lower in tandem with the price declines for feedstocks purified terephthalic acid (PTA) and monoethylene glycol (MEG), the source said.

According to the source, demand should be better in summer than other periods of the year because of producers' upcoming preparation to manufacture plastic bottles.

The source added that it expects PET orders to come in over the coming week.

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